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LIVE MARKETS-Yield and Trump jitters knock stocks

ReutersJan 8, 2025 12:18 PM

STOXX 600 turn negative, down 0.4%

UK yields at highest since 2008

Trump reportedly mulls declaration to allow for tariffs

Wall St futures edge lower

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YIELD AND TRUMP JITTERS KNOCK STOCKS

Markets have taken a sudden turn for the worse with stocks in Europe now clearly in the red after a positive start to the day. Yield and tariff jitters are once again to blame.

At the epicentre of the selloff across European equities was London, with UK mid-caps .FTMC falling by as much as 1.5%. Traders linked to fall to a tumble in gilt prices that pushed 10-year yields to their highest level since 2008.

Newsflow around tariffs wasn't helping either.

CNN has just reported that Donald Trump is considering declaring an emergency to provide legal justification for a large swath of universal tariffs on allies and adversaries.

As a result the STOXX 600 .STOXX lost around 1 percentage point in around 30 minutes of trading, falling by nearly 0.5% at one point. The region-wide index was last down around 0.3%.

(Danilo Masoni)

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FOR WEDNESDAY'S OTHER LIVE MARKETS POSTS

US TARIFFS? TRANSACTIONAL FOR EUROPE, PUNITIVE FOR CHINA CLICK HERE

EUROPEAN DEFENCE NAMES BOOST STOXX, OIL NAMES CAP GAINS CLICK HERE

STRONG DOLLAR, RISING YIELDS HOG THE SPOTLIGHT CLICK HERE

EUROPE BEFORE THE BELL: FUTURES FALTER AS TRUMP, JOBS DATA IN FOCUS CLICK HERE

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