In European Equity Markets the pan-European Stoxx 600 closed down by 1.4% with almost every sector in the red. All major bourses were in negative territory, with Britain’s FTSE 100 down 1.4%, while Germany’s DAX and France’s CAC both fell around 1.8%. Royal Mail fell to the bottom of the Stoxx 600 and hit a record low. Reuters cited one trader as saying there was a legitimate fear the privatized U.K. postal service could be renationalized, amid turmoil surrounding Prime Minister Theresa May’s government. The stock was down nearly 11%.

In Currency Markets sterling weakened again on Thursday as pressure mounted on Prime Minister Theresa May to name a date for her departure after a backlash over her last-ditch plans for Britain’s exit from the European Union. The pound fell 0.4% to a new 4-1/2 month low of $1.2605, before recovering some of those losses. It is the worst performing major currency in May, and so far has lost more than 3% of its value against the dollar. Sterling fell 0.1% to 88.145 pence against the euro.

In Commodities Markets oil prices fell on Thursday, extending falls from the previous session as trade tensions dampened the demand outlook, putting the main benchmarks on course for their biggest daily and weekly falls in six months. Brent crude futures, the international benchmark, fell to a session low of $68.35 per barrel, trading down $2.50 at $68.49. Meanwhile, U.S. West Texas Intermediate (WTI) crude futures were down by $2.56 cents at $58.86 per barrel, after falling 2.5% the previous day.

In US Equity Markets indices fell more than 1% on Thursday, as technology stocks were pressured by fears that the U.S.-China trade spat could turn into a tech cold war between the two countries. Apple Inc fell 2.1%, while Microsoft Corp dropped 1.6%, weighing on the S&P 500 technology sector, which declined 1.91%. The S&P 500 was down1.32%, at 2,818.43 and the Nasdaq Composite fell 1.52%, at 7,633.10. NetApp Inc’s shares fell 12%, the most on the S&P 500, after reporting current-quarter profit and revenue below analysts estimates.

In Bond Markets German 10-year bond yields fell back towards 2-1/2 year lows on Thursday as a fresh dose of disappointing economic news added to concern about the harmful impact of trade wars, with Britain’s political turmoil only fuelling demand for safe-haven debt. Germany’s 10-year government bond yield fell 4 basis points to minus 0.12%, within striking distance of 2-1/2 year lows of minus 0.132% hit last week and set for its biggest one-day fall in over two weeks.