Stock markets dropped on Thursday on rising concerns about prospects for the global economy, following days of sharp moves in government bonds that hinted at slower growth and inflation than previously expected.
Equities fell first in Asia before the negative mood spread into Europe and then to Wall Street — a move analysts blamed on expectations that US economic growth is about to peak at the same time as signs emerge of a slowdown in China.
The US S&P 500 index closed lower by 0.9 per cent, while the technology-focused Nasdaq Composite slipped 0.7 per cent. Both indices had set records in recent days.
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