LONDON: World stocks hit a 12-day trough on Monday as fears for economic growth sent investors dashing for safe-haven assets, but the selloff lost some momentum after better-than-expected data from Germany.
The falls in Europe follow hefty tumbles in Asia. Japan's Nikkei hit a five-week low after diving 3.1 percent for its largest one-day percentage fall since late December. South Korea's Kospi index declined 1.7 percent, while China shares was also in the red with the blue-chip CSI 300 index down 1.4 percent.
"The bond market price action is an enormous blaring siren to anyone trying to be optimistic on stocks," JPMorgan analysts said in a note to clients. Prime Minister Theresa May held crisis talks with senior colleagues and hardline Brexiteers on Sunday trying to breathe life into her twice-defeated European divorce deal after reports her cabinet was plotting to topple her.
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