HONG KONG (AP) — World shares mostly retreated and oil prices jumped on Monday after U.S. President Donald Trump warned Tehran that the “clock is ticking” as U.S.-Iran negotiations over a permanent end to the war stall.
U.S. futures fell and markets in Japan and South Korea pulled back from their records. In early European trading, Britain’s FTSE 100 edged up 0.1% to 10,205.31. France’s CAC 40 lost 0.9% to 7,883.42, and Germany’s DAX dropped 0.1% to 23,925.82.
During Asian trading, Tokyo’s Nikkei 225 fell 1% to 60,815.95, a decline led by technology-related stocks. It reached all-time intraday high levels last week above 63,000.
The yield on the 10-year Japanese government bond surged to as high as 2.8%, its highest level since the late 1990s. That’s part of a broader shift toward higher yields as the Bank of Japan gradually raises interest rates and higher energy costs raise expectations of rising inflation. The yield was around 2.55% just one week ago.
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