Rate hike fears crippled global markets yesterday, with bond yields reaching new highs. Europe's stock markets were particularly hit. The British FTSE 100 tumbled over 2%, just like Germany, Spain and the Netherlands did. The French CAC40 lost 3.13% at the close, with no stocks in the green. More defensive markets such as Switzerland, Belgium and Denmark fared little better. In the United States, resistance was better. The S&P500 and Nasdaq 100 gave back just 0.8% and the Dow Jones barely more.