In European Equity Markets the pan-European Stoxx 600 index ended down 0.3 percent, with the majority of the region’s sectors in negative territory. Telecoms led the losses, with the majority of the sector’s stocks closing lower. European bourses saw red by the close with the U.K.’s FTSE 100 off 0.62 percent, the French CAC 40 down 0.42 percent and the German DAX declining 0.54 percent. In peripheral markets, the Spanish IBEX and Italy’s FTSE MIB, each posted declines of 1 percent or more. Swiss asset management giant GAM fell to the bottom of the pan-European benchmark after Credit Suisse halved its price target for the stock. Shares fell 10.83 percent by the close.

In Currency Markets the US dollar rose on Thursday for the first time in five days, as risk appetite eased and stocks gave up gains notched early in the week, amid nagging concerns about U.S. threats to impose additional tariffs on Chinese imports next month. Heavy losses in emerging market currencies have also benefited the dollar. The Canadian dollar, however, pulled back from a 2-1/2-month peak hit two days ago versus the dollar, dropping 0.5 percent to 77 U.S. cents. Other emerging currencies were also weaker against the dollar, The Mexican peso fell 0.8 percent, while the South African rand dropped 1.3 percent.

In Commodities Markets oil prices rose on Thursday, extending gains on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in U.S. crude inventories. Brent has risen by almost 10 percent over the past two weeks on widespread perceptions that the global oil market is tightening and could run short in the next few months as U.S. sanctions restrict crude exports from Iran. Brent crude oil was up 53 cents a barrel at $77.67. U.S. crude was 34 cents higher at $69.85, after earlier hitting a high of $70.08.

In US Equity Markets stocks fell on Thursday, after four straight sessions of gains, weighed down by concerns over the U.S.-China trade war, even though gains in technology stocks helped limit losses. Amazon rose as much as 1.4 percent to a record high of $2,025.57, moving closer to joining Apple in the $1 trillion market cap club. Amazon was last up 1 percent. The S&P 500 was down 0.19 percent, at 2,908.60 and the Nasdaq Composite was down 0.03 percent, at 8,107.65. The S&P materials index fell 1.21 percent, the most among the 11 major S&P sectors. Trade-sensitive industrials fell 0.35 percent, led by Caterpillar’s 1.3 percent decline.

In Bond  Markets the gap between Italian and German bond yields was at its widest in just over five years on Thursday, as Italian government bonds came under renewed selling pressure. Italy’s two, five and 10-year bond yields rose to reach near three-month highs, with non-core euro zone bond markets also coming under pressure. Italy’s two, five and 10-year bond yields hit near three-month highs at 1.43 percent, 2.56 percent and 3.24 percent respectively. Greek bond yields were also up by as much as 16 bps with the yield on Greek five-year bonds reaching a two-month high at 3.42 percent.