Weekly recap: Uncertainty moves markets into retreat from all-time highs
Weekly recap: Uncertainty moves markets into retreat from all-time highs
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European and US markets retreated from all-time highs, driven by risk aversion amid economic concerns and the upcoming US presidential election. Safe-haven assets rose while currencies and crude oil prices fell. European benchmarks declined, with major miners and oil producers suffering losses. SAP and Barclays reported strong earnings, but the euro weakened against the US dollar. US markets also ended negatively, with rising bond yields impacting equity valuations. Tesla reported better-than-expected earnings, boosting its shares. Asia-Pacific markets were mostly lower, with Japan's Nikkei 225 falling ahead of elections.
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