Markets fell on Tuesday.
The S&P 500 fell 0.7 percent, the STOXX Europe 600 fell 1.7 percent and the Nikkei 225 fell 0.7 percent.
There were pockets of strength among stocks, with the FTSE 100 gaining 0.4 percent and the Shanghai Composite Index rising 0.6 percent.
Nevertheless, the general shift from risk was clear.
US crude oil plunged 4.9 percent while gold rose 1.5 percent and the US 10-year Treasury yield fell to a record low of 1.367 percent.
And bond yields continued their declines early on Wednesday with Japan’s 20-year government bond yield dropping to zero for the first time. The 10-year note yield fell to a record minus 0.265 percent, while the 30-year yield reached an unprecedented 0.03 percent.