U.S. government debt yields fell on Thursday as fears of a slowdown in global growth spooked investors across Wall Street.
The Federal Reserve's Jerome Powell said Wednesday that the biggest challenges to the U.S. economy are sluggish productivity and a widening wealth gap. The chair of the Fed spoke at a town hall in Washington D.C. and asked for more political action to address income inequality.
The European Commission revised downward its growth outlook for the euro zone this year as global trade tensions and among headwinds undermine the bloc's largest economies. The Commission sees euro zone growth slowing to 1.3 percent this year from 1.9 percent in 2018.
Global growth fears contributed to the stock market's sharp downturn in December as investors fled to safer investments.