Global Markets React to Wall Street Volatility and WHO's Malaria Vaccine Rollout
Share markets experienced a year-end wobble, with Wall Street suffering its biggest drop since September. The decline was attributed to a lack of resistance from Asia and Europe, as holidays approached and U.S. data awaited. European stocks fell, with the car sector, tech, and travel industries all experiencing losses. However, Commerzbank provided some positive news as its shares jumped after the European Central Bank approved its stock buyback plan. U.S. futures were pointing higher, and bond markets continued to rally. Italy's 10-year bond yields reached their lowest level since August 2022, while benchmark 10-year Treasuries remained at the same level as the beginning of the year. The yen rose against the dollar after Japan raised its growth projections. In the commodities market, oil prices hovered around $80 a barrel due to concerns over global trade disruptions and tensions in the Middle East.