U.S. Treasury yields fall, dollar firms on stimulus delay worries

U.S. Treasury yields fall, dollar firms on stimulus delay worries

But European stock markets inched higher after two sessions of declines, with the pan-European STOXX 600 up 0.8%, after Swiss wealth manager UBS posted a surge in quarterly net profit. "The earnings season up to now has been very good, so it comes back to the fact the market has been overbought and had a strong rally since Jan. 1, with a lot of positive news priced in," said Francois Savary, chief investment officer at Swiss wealth manager Prime Partners, referring to recent losses."There is room for some consolidation."E-Mini futures for the S&P 500 shed 0.1%. On Monday, the Nasdaq index scaled a new peak but the Dow Jones Industrial Average index slipped.South Korea and Hong Kong HSI topped losers in Asia overnight, falling more than 2% apiece. The sell-off also saw Japanese stocks slip 1% and Chinese blue-chips tumble 2%, their biggest one-day loss since Sept. 9.All had touched milestone highs earlier this month.MSCI's All Country World index, which tracks stocks across 49 countries, was flat, while MSCI's emerging market stock index was 1.6% lower.Simmering tensions in the Taiwan Strait and South China Sea added to the caution in Chinese markets, where a jump in small-cap short bets has also