Fresh Wave of Selling Slams Global Markets

``Markets around the world are selling hard on Thursday, a day after U.S. stocks rose but faltered on the back of Congressional testimony from Federal Reserve Chairwoman Janet Yellen. Crude oil is down sharply, the yen is strengthening, gold has surged, and the yield on the U.S. 10-year Treasury note continue to slide. There is a scramble for safe-haven assets and a wholesale dumping of risk. Emerging markets, energy and banking stocks are under heavy pressure.''