美歐金融市場繼續動蕩

Fears over banks and economy spark volatility

Financial markets saw further volatility yesterday as worries about the fragility of the banking sector and deepening gloom about the global economic outlook remained uppermost in investors' minds.

“Sentiment is increasingly showing facets of the November gloom as temporary gains are quickly erased,” said Ashraf Laidi, at CMC Markets.

“We had repeatedly warned late last year that rising risk aversion would return in the first quarter as the economic story joins the earnings story on the downside.”

A strong opening rally on Wall Street stuttered, derailing a tentative recovery by European stocks and helping Treasury bonds pare early losses. The yen shot higher across the board as nervous investors sought the safety of the Japanese currency.