Stock market today: World shares slip as higher US 10-year Treasury yield pressures Wall Street

FILE - A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, on Oct. 18, 2023. Asian shares retreated Friday, Oct. 20 as the prospect of a 5% yield on the 10-year U.S. Treasury for the first time since 2007 added to pressure on Wall Street. – World shares retreated as the prospect of a 5% yield on the 10-year U.S.

A barrel of benchmark U.S. crude rose $1.36 to $89.73 per barrel in electronic trading on the New York Mercantile Exchange. It gained $1.05 to settle at $89.37 on Thursday. Brent crude, the international standard, picked up $1.29 to $93.67 per barrel. Hong Kong’s Hang Seng shed 0.7% to 17,172.13 and the Shanghai Composite index dropped 0.7% to 2,983.06.

On Thursday, the S&P 500 fell 0.8% and the Dow Jones Industrial Average dropped 0.7%. The Nasdaq composite sank 1%.

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