In European Equity Markets Europe’s stocks benchmark fell more than 1 percent on Friday while German and French indexes slid by their most in nearly 5 months as jitters in the bond markets over political risk looked to have spilled over into equities. The STOXX 600 was down 1.2 percent in afternoon trading and was poised for its third straight session of losses. Banks and commodity-related sectors led losses across Europe following a fall in metals prices overnight, subdued forecasts from the likes of BASF and weak results from Standard Chartered and Royal Bank of Scotland. European banks, the sector most sensitive to bond spreads, fell more than 2 percent while the basic resources slid more than 3 percent.

In Currency Markets the U.S. dollar fell to a more than two-week low against the yen and a one-week trough on a closely followed index on Friday as investors doubted the likelihood of swift tax reform and a quick boost in spending from U.S. President Donald Trump’s administration. The dollar was down 0.3 percent against the yen at 112.23 yen after touching 112.06 yen, its lowest since Feb. 9. The euro was up slightly against the dollar at $1.0587. The Australian and New Zealand dollars were weaker, with Aussie down 0.38 percent at $0.7685 and with Kiwi shedding 0.29 percent to $0.7208. The dollar index was down 0.12 percent at 100.930 after hitting a one-week low of 100.660.

In Commodities Markets oil prices fell on Friday despite OPEC pledges to boost compliance with output curbs, on concerns over rising U.S. supplies and as traders begin to pull out crude barrels from pricey storage as physical markets show signs of tightening. Brent crude oil was down 0.9 percent, at $56.05 a barrel, while U.S. West Texas Intermediate fell 45 cents to $54.00 a barrel. Spot gold had risen 0.29 percent to $1,253.53 per ounce. Silver rose 0.53 percent to $18.26 per ounce, having touched its highest in 3-1/2-months at $18.40. Platinum rose 1.24 percent to $1,018.50 per ounce, having earlier hit its highest since early October at $1,028.60, while palladium gained 0.97 percent to $781.25.

In US Equity Markets the Dow Jones Industrial Average was on track to break its 10-day record-setting streak on Friday, as investors reassessed the “Trump rally” after recent comments suggested that pro-growth policies might take longer to be implemented. The Dow Jones industrial average was down 0.21 percent, at 20,766.45. The S&P 500 was down 0.23 percent, at 2,358.17. The Nasdaq Composite was down 0.28 percent, at 5,819.10. Shares of Hewlett Packard Enterprise fell 7.87 percent after the company cut its full-year profit forecast. J.C. Penney fell 9.77 percent after the department store operator reported a bigger-than-expected fall in same-store sales for the holiday quarter.

In Bond Markets U.S. Treasury debt yields fell on Friday, after data showed new home sales grew less than expected in January and consumer sentiment eased last month, adding to a batch of reports the last few weeks that suggested a more mixed outlook for the world’s largest economy. U.S. 10-year notes were up 13/32 in price to yield 2.341 percent, compared with 2.388 percent late on Thursday. Yields fell as low as 2.333 percent, their lowest since Feb. 9. U.S. 30-year bond prices also rose 28/32, yielding 2.978 percent, down from Thursday’s 3.023 percent. U.S. 30-year yields also touched a two-week low of 2.976 percent.