(Bloomberg) — Stocks and equity futures fell Friday and havens including sovereign bonds rose after a fire broke out at major nuclear power plant in Ukraine following shelling by Russian troops.
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An initial spasm of worry lopped 3% off European equity futures but the panic eased a little as investors weighed the incident. European contracts pared the drop to about 2%, while those for the U.S. shed less than 1%.
Gains in gold and the dollar moderated, while the euro pared a decline. Oil was near $110 a barrel, trimming a jump of as much as 4.8%. Asian equities remained in the red, sapped by Chinese technology stocks.
Treasuries rallied, with the 10-year yield falling below 1.80%. The gap between two-year and 10-year yields is the lowest since March 2020. The flatter curve points to expectations for slowing economic expansion.
The nuclear plant, Europe’s largest,…
