World shares retreated as the prospect of a five per cent yield on the 10-year US Treasury for the first time since 2007 added to pressure on Wall Street, though the yield held steady below that level early Friday.
Germany’s DAX fell 1 per cent to 14,868.33 and the CAC 40 in Paris lost 1.3 per cent to $6,833.21. Britain’s FTSE 100 was down 0.6 per cent at 7,458.28. The futures for the S&P 500 and for the Dow Jones Industrial Average were virtually unchanged.
Investors were keeping an eye on the Middle East, where Israel bombarded Gaza early Friday, hitting areas in the south where Palestinians had been told to seek safety. Oil prices surged anew with escalating conflict fuelling supply concerns. The price of oil depends on how much of it is consumed and how much is available.
