Global stock markets, US futures sink after Treasury selloff eases

Global stock markets, US futures sink after Treasury selloff eases

Picture used for illustrative purpose.



Global stock markets and Wall Street futures declined on Tuesday after a selloff in the US Treasury debt eased, helping to allay concern about a possible rise in interest rates.

Tokyo, Shanghai and Hong Kong closed lower and Frankfurt retreated in early trading. London opened higher. Overnight, Wall Street's benchmark S&P 500 index climbed 2.4%, recovering most of its losses from the past week.

That came after a Treasury selloff abated after pushing yields to their highest level in a year. That helped to dampen concerns about a possible rise in interest rates and downward pressure on the US economic recovery.Investors “appear to be taking a breather” after Monday's recovery, Jeffrey Halley of Oanda said in a report.

Also Tuesday, Australia's central bank left its policy unchanged at its March meeting.

Japan reported employment rose despite a state of emergency to cope with renewed