Bond yields tumble as Netflix fuels stock market sell-off

Industry
Published by
Reuters

By Herbert Lash and Tommy Wilkes NEW YORK/LONDON (Reuters) – Risk aversion dominated on Friday as stocks slumped in Europe, Wall Street slipped, oil prices fell and bond prices surged with traders scurrying for the relative safety of government debt. Investor nerves over how aggressive the Federal Reserve will tighten monetary policy were shaken by poor subscriber growth at Netflix late on Thursday. Its share price tumbled nearly 20% and sent U.S. and other markets lower. The Nasdaq, the stand out performer of the stock market boom since the pandemic began, has fallen more than 10% from a Nove…

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