Stocks fell as a wave of selling that analysts attributed to mounting doubts about a trade deal pulled lower shares of everything from banks to technology companies.
Worries about the path of U.S.-China trade negotiations and the global economy have kept stocks and bond yields under pressure.
But many worry that the gloomy outlook reflected in bond markets, where yields across the globe have dropped, could soon be reflected in stocks, too.
Photo: johannes eisele/Agence France-Presse/Getty Images Bank stocks took a hit as U.S. Treasury yields retreated again, with Citigroup , Bank of America and Morgan Stanley each losing more than 2%.
Hong Kong’s Hang Seng Index fell 0.4% after protests at the city’s airport prompted authorities to cancel more than 100 flights.
“This is a clear show of Chinese strength and I don’t think, just as we are seeing in the trade war, that China will be willing to allow overt breaches of its authority within the region and that clearly is having pretty negative effect in terms of the Hang Seng,” he added.
The Shanghai Composite closed higher, though, rising 1.5% after China’s central bank continued to weaken the yuan.