Reuters
Bond yields tumble as Netflix fuels stock market sell-off
NEW YORK/LONDON (Reuters) -Risk aversion dominated markets on Friday as stocks slumped on Wall Street and in Europe, oil prices fell from seven-year highs earlier in the week and bond prices surged with traders scurrying for the relative safety of government debt. Poor subscriber growth reported late Thursday at Netflix Inc sent its shares plunging 21.8% and cast a pall over a market already shaken by concerns the Federal Reserve will tighten monetary policy too aggressively to fight inflation. Investors are waiting for details from the Fed’s policy meeting next week on how it will proceed at a time that inflation is such a hot political issue it could force a more hawkish stance.
