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Friday, February 21, 2020, 19:17
Stocks head for worst week in four
By Reuters
Friday, February 21, 2020, 19:17 By Reuters

LONDON/SYDNEY - Shares across the world fell on Friday and were set for their worst week in four as investors dumped riskier assets for the safety of bonds and gold.

Europe's broad Euro STOXX 600 fell 0.3 percent, with indexes in London and Paris down 0.5 percent and 0.3 percent respectively.

Gold and US bonds were among the main beneficiaries as funds sought safety.

Yields on 30-year US Treasuries fell below the psychologically important 2 percent level to the lowest since September 2019.

Yields on 10-year notes were down 9 basis points for the week at 1.498 percent, lows last seen in September.

Gold was last up 0.8 percent at US$1,631.16, having added 3.1 percent for the week so far to seven-year highs.

The MSCI world equity index, which tracks shares in 49 countries, fell 0.2 percent, while MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 1 percent.

E-Mini futures for the S&P 500 ESc1 slipped 0.3 percent.

Still, the yen rallied on Friday, gaining 0.5 percent against the dollar in European trading to 111.51 though the greenback was still set for its best week since July 2018 with a rise of 1.7 percent.

The dollar against a basket of currencies was last down 0.2 percent at 99.649, but still near 33-month highs touched a day earlier.

Against a basket of currencies, the dollar hit a three-year top at 99.910 having climbed 0.5 percent for the week so far.

Oil prices fell around 1 percent, with Brent crude futures easing 78 cents to US$58.54.

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