Markets Wrap: Stocks sink as bonds convulse and dollar rally grows

An accelerating selloff in US government bonds is starting to spread havoc across financial markets, pushing up borrowing costs, weighing on currencies and driving stocks toward a technical correction.

An Asia stock benchmark fell for a third day, taking its decline since a July high to just over 10 per cent. Treasuries extended losses in Asian trading, with yields on 10- and 30-year notes approaching 5 per cent. Europe equity contracts and US stock futures ...

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