OPEC was haggling over whether to make fresh production cuts, with little clarity on the size of the potential curbs or whether there would actually be a deal after the first day of talks in Vienna.
The riskiest corporate bonds are dropping as signs of economic weakness spread, raising the specter of more defaults and distress.
For over a year, bond traders been whipsawed by uncertainty about how high the Federal Reserve will push interest rates.
With the Federal Reserve approaching a possible pause in interest rate-hiking, two close-call decisions elsewhere in the world offer a foretaste of the quandary US officials have in store.
Turkish President Recep Tayyip Erdogan named Mehmet Simsek as treasury and finance minister, the most prominent appointment in a renewed cabinet that will face the challenge of restoring investor confidence after elections.
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