Asian share markets were scorched on Tuesday as stability concerns put a torch to European bank stocks and sent investors stampeding to only the safest of safe haven assets.

As fear overwhelmed greed, yields on longer-term U.S. Treasury debt hit one-year lows as bond prices rose, the yen surged to a 15-month peak and gold reached its most precious since June.

The jump in the yen piled further pressure on Japan’s Nikkei .N225 which sank 3.4 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.8 percent, and would have been lower if not for holidays in many centers.

Source: reuters