World stocks fall as Portugal bond yield rises
Egypt adds to worries over euro-zone debt crisis but Wall Street steady on jobs data
Stocks fell around the world, led by Portugal as the nation's 10-year bond yield surpassed 8 per cent for the first time since November last year after two ministers quit.
Portugal's main equity gauge tumbled 5.9 per cent, with trading volumes more than six times the 30-day average, and the 10-year bond yield rose as much as 139 basis points to 8.11 per cent.
The resignation of two ministers signalled Portugal will struggle to implement further budget cuts as its bailout programme enters the final 12 months.
The Stoxx Europe 600 Index slid 1.1 per cent, with trading volumes 28 per cent more than the 30-day average. Portugal's two largest lenders fell more than 10 per cent.
The MSCI Emerging Markets Index fell for a second day, sliding 2 per cent, the most since June 20.
Turkey's benchmark gauge dropped 3.5 per cent and two-year yields jumped 22 basis points to 7.56 per cent after inflation accelerated.