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2015-01-06 13:20:00

EUROPE & ASIA: DOWN

EUROPE & ASIA: DOWN

European shares sank for a third day on Tuesday as a slide in oil prices showed no sign of easing off, supporting traditional safe-haven assets such as top-rated government bonds, the Japanese yen and the Swiss franc.

Asian shares had slumped overnight after another day of drama on oil markets that drove U.S. crude to less than $50 a barrel for the first time since the first half of 2009 and handed Wall Street its worst losses in three months.

The resulting bid for safety drove the average of yields on German DE10YT=RR, U.S. US10YT=RR and Japanese JP10YT=RR 10-year debt to less than 1 percent for the first time.

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Tags: OIL, PRICES,
Chronicle:
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