U.S. stocks decline, dollar rises on first say of September

September got off to a rough start as persistent concerns about rising global interest rates and recessions haunted stock and bond markets on Thursday and pushed the safe-haven U.S. dollar to a 24-year high against the yen.

U.S. stock markets falls one percent as (.FTSE), Frankfurt (.GDAXI), Paris (.FCHI) and Milan (.FTMIB) pushed the STOXX 600 (.STOXX) to its lowest since mid-July and bond market selling continued after the biggest monthly reverse in decades.

The Japanese yen fell amid growing speculation about wider interest rate differentials between Japan and the U.S., according to German news agency.

The dollar advanced 0.4 percent equals 139.5 yen and the euro and sterling also fell as much 0.4 percent against the greenback.

In addition to that, Tokyo stocks opened lower affected by investor sentiment, after US stocks fell for the fourth consecutive session.

The downside due to the possibility that the European Central Bank (ECB) will raise interest rates by 75 basis points next week after Wednesday’s record inflation reading.