In Europe the cost of oil contributed to declines in major indices like the British FTSE 100 and the German DAX.

ECONOMIST: Jitters in the markets | The

The reliance on low interest rates to spur activity was exemplified in the weekly MBA mortgage activity indices where a challenged housing market failed to spark either purchase or refinancing activity despite a slide in borrowing cost last week.

FORBES: Bonds Bruised By Bernanke Tease Of QE3