Bloomberg Markets
Stocks fell as long-dated bond yields pushed further into multidecade highs and oil prices extended their climb, draining traders’ appetite for risky assets.
Equity markets are struggling under the weight of rising global borrowing costs as bond investors demand higher premiums to finance spendthrift governments and shield against persistently high inflation.
Little prospect of an imminent breakthrough in the US-Iran war has also reinforced expectations that central banks will need to tighten