World shares, euro slide as high oil prices, fiscal worries linger
SPY•Global stocks and the euro fell on Wednesday as Brent settled at $100.20 a barrel, while uncertainty about U.S. rate policy and France’s fiscal outlook weighed on sentiment. The S&P 500 and Nasdaq each slipped about 0.2%, while the pan-European STOXX 600 fell 1%.
1. Stocks pull back
The S&P 500 and Nasdaq each fell about 0.2%, a day after reaching record highs. The pan-European STOXX 600 lost 1%, and the MSCI world stocks index fell 0.6%; European bank shares dropped 3.3%.
2. Oil and rates in focus
Brent crude settled 38 cents lower, or 0.38%, at $100.20 a barrel after a choppy session. Federal Reserve meeting minutes showed policymakers were divided over the rationale for raising rates. U.S. Treasury yields fell from their highs after oil prices eased and a $39 billion auction of 10-year notes drew strong demand; the 10-year yield was last at 5.284%.
3. Euro weakens
The euro fell 0.6% to $1.119, while the dollar index rose 0.37%. Concerns about French finances and political uncertainty ahead of the 2027 election weighed on French bonds and the euro.
