Tentative calm returned to global markets on Wednesday, with the euro steadying after dropping to a two-decade low and oil back above $100 a barrel following a near 10% plunge a day earlier, Reuters reported.
The single currency traded at $1.025, a fraction above its weakest level since late 2002 touched overnight as fears of a slowdown and rising commodity prices weighed. read more
Government bond yields across the euro area nudged up too, and European stocks also making gains, while Brent crude bounced almost 3% after slumping on Tuesday 9.5% to its lowest in 2-1/2 months.
Nevertheless, fears over growth that have stalked markets in recent were lingering, investors said.
"The market moves over the past couple of days have been classic recessionary pricing," said Hugh Gimber, global market strategist at J.P. Morgan Asset Management. "Investors are really becoming more cognisant of the risks."
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