Stocks and oil dive as investors hunt safe havens

  • Dollar loses ground after hitting 20-year high
  • Stocks tumble with Nasdaq leading Wall St drop
  • U.S. yields lose ground after touching Nov 2018 levels
  • Oil tumbles, gold, bitcoin fall

NEW YORK May 9 (Reuters) – Stock indexes around the world fell sharply, oil prices sank about 6% and the dollar finished just off a 20-year high as investors fled risk and sought safe havens due to worries about inflation and slower global economic growth.

Oil prices tumbled as coronavirus lockdowns in China, the top oil importer, fed worries about energy demand. read more Gold fell and bitcoin plunged to its lowest level since July 2021.

U.S. Treasury yields eased after the benchmark 10-year note hit 3-1/2 year highs as traders braced for consumer price data and the auction of $103 billion in U.S. government debt this week.

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U.S. stocks extended Friday’s bruising sell-off as investors rushed to protect themselves against…

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