Mayhem in Asia and Europe markets

Mayhem in Asia and Europe markets

Initial rallies in Asian and European bourses on Tuesday have swiftly faded, with volatility swamping Europe’s trading, the FT reports. The FTSE 100 has become the latest European index to officially enter a bear market, falling 20 per cent from its February high, FT Alphaville says. Gold jumped 3 per cent past $1,770 an ounce as investors fled stocks, according to Reuters. Commodities have also borne the brunt, with Brent crude falling $5 in early trading to settle well below $100 a barrel, the FT adds. Bonds worldwide have gained $132bn in value to $42,100bn amid the rush to safe havens, according to one broad index, Bloomberg reports.