European shares rebound from worst day of the year.

On Tuesday European shares rebounded from their worst day of the year, but German bond yields dropped to new five-month lows as a prompt that investors are still concerned the spread of the Delta coronavirus variant could disrupt the economic rebound.

Europe’s STOXX 600 gained 1%, supported by a series of positive corporate earnings and production updates from miners, while in the U.S. e-mini futures for the S&P 500 index increased by 0.6%. The positive moves followed more selling in Asia, with MSCI’s gauge of Asia Pacific stocks outside Japan dropping 0.7% and Japan’s Nikkei 225 touching a six-month low, down nearly 1%.

China deleveraging risks upset property stocks and the broader market for a second day, causing a drop in shares of heavily indebted developer China Evergrande Group. The Hang Seng Index lost 0.8% while China’s blue chip CSI300 Index was down 0.1%.

MSCI’s broadest gauge of global shares was down 0.5%, continuing its longest-losing streak in almost18 months.

Riskier assets worldwide have come under pressure recently as many countries fight to control the epidemic of the fast-spreading Delta virus variant, increasing concerns that further lockdowns and other controls could upset the worldwide economic recovery.

Stocks on Wall Street lost as much as 2% on Monday, with the Dow recording its worst day in nine months as COVID-19 deaths increased in the United States.

In a separate indicator of investor risk appetite, bitcoin dropped below $30,000 for the first time since June 22.

Oil prices were stable after dropping around 7% in the previous session due to concerns about future demand and after an OPEC+ agreement to increase supply. Brent crude increased by 0.7% to $69.11 a barrel. The U.S. crude contract for August delivery, which expires later on Tuesday, gained 0.9% at $66.64 a barrel. Spot gold was stable at $1,812.16 per ounce after touching a one-week low of $1,794.06 in the previous session.