Global stocks and oil prices dropped on Wednesday as markets feared a possible second wave of coronavirus infections.
MSCI s index of global shares fell 0.3%, while the pan-European STOXX 600 index slid 1.6%.
Deutsche Bank shares plunged 4.4%. German bank Commerzbank and ABN Amro Netherlands also slumped after reporting their first-quarter losses.
MSCI s broadest index of Asia-Pacific shares outside Japan gained 0.3%. S P 500 e-mini futures fell 0.2%.
Treasury yields slid ahead of Fed Chairman Jerome Powell s speech, intensifying speculations that the United States could adopt negative interest rates in the future.
On Tuesday, President Trump pushed the Federal Reserve to adopt negative rates. This remains a controversial topic in the financial markets after U.S. money markets hinted at possible rates below zero.
U.S. 10-year Treasury yield stood at 0.6606%. Two-year yield traded at 0.1629%.
https://www.umarkets.com/en/news/stocks-fall-on-fears-of-second-coronavirus-wave