Thursday, 22 Sep 2011 | 12:16 PM ET - CNBC Executive News Editor - With no solution in sight for Europe and new fears of a global recession, investors dumped stocks and commodities and ran to the safety of U.S. Treasurys. Treasury yields [cnbc explains] , as a result, slipped to historic lows with the 10-year yielding 1.75 percent and the 30-year at 2.86 percent. The dollar was also a beneficiary of a massive fear trade that sent U.S. stocks sharply lower, on the heels of steep sell-offs in equities markets around the globe. The worst performing stock market sectors mirrored the sell-off in global commodities markets, with materials down 4.6 percent and energy stocks down 4.1 percent. Copper, hit by concerns of a Chinese slowdown, tumbled 7 percent to a 1-year low. Gold, usually a safety play, was sold into the maelstrom as investors raised cash. The euro [EUR=X 1.3485 -0.0092 (-0.68%) ], broke below 1.35, a recent bottom of its range. It was trading in the 1.346 area, an eight-month low against the dollar. The dollar index [.DXY 78.38 1.03 (+1.34%) ] was 1.4 percent higher."People are finding it really isn't gold. It isn't precious metals. It's not currencies. U.S. Treasurys are where people are flocking to at a time of extreme concern about risk, and we continue to see Treasurys continue to get bid up," said Zane Brown, fixed income strategist at Lord Abbett.

http://www.cnbc.com/id/44626413