Oddbean

Stocks Fall on US Economic Data and Europe Angst: Markets Wrap ========== The stock market is ending the week on a sour note after a disappointing US economic data and worries that a political crisis in France is deepening. US consumer sentiment unexpectedly fell to a seven-month low. French shares lost roughly $200 billion in market capitalization following President Emmanuel Macron’s decision to call a snap election. The nation’s bonds were at the heart of the rout, with the premium that investors demand to own 10-year debt over safer German peers heading for the biggest weekly surge on record. Traders shunned risk assets. The S&P 500 dropped to around 5,410. The Stoxx Europe 600 fell almost 1%. Treasury 10-year yields declined five basis points to 4.20%. The dollar headed toward its highest since November. The euro is the worst-performing major currency this week against the greenback. Transactions of more than $1 million among the dollar-denominated bonds of major French banks have proliferated in recent days. Tesla Inc. investors re-approved Elon Musk’s compensation and cleared the company moving its legal home to Texas. Adobe Inc. projected strong future sales for its creative products. Furniture retailer RH reported a heavier-than-expected first-quarter loss. #StockMarket #UsEconomicData #Europe #France #UsConsumerSentiment #Bonds #RiskAssets #S&p500 #StoxxEurope600 #TreasuryYields #Dollar #Euro #Tesla #Adobe #Rh https://finance.yahoo.com/news/asian-stocks-set-fall-yen-223414813.html