World stocks erased the year’s gains and German bond yields slid to record lows yesterday as investors fled risky investments for safe-haven assets on the eurozone’s deepening debt woes.

A EUROPEAN Union agreement to ban Iranian oil imports boosted crude oil prices yesterday, but persistent worries about a eurozone debt crisis hobbled the single currency and European stocks.

WORLD stocks coasted along near record highs yesterday while investors’ search for yield kept emerging market and corporate bonds closer to government debt.