Stocks rally, safe-haven currencies drop, on China plan to cut tariffs

World equity markets rallied for a fourth day on Thursday, with key stock indexes touching fresh peaks, as news that China plans to cut tariffs in half on some U.S. goods buoyed risk sentiment and pushed safe-haven currencies lower.

NEW YORK: World equity markets rallied for a fourth day on Thursday, with key stock indexes touching fresh peaks, as news that China plans to cut tariffs in half on some U.S. goods buoyed risk sentiment and pushed safe-haven currencies lower.

The yield on Germany's benchmark 10-year Bund touched its highest in almost two weeks as investors bet China's efforts to contain the deadly coronavirus would mitigate its impact on the global economy.