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Stock market today: World shares slide after Wall St rout driven by high yields, mixed earnings

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Shares have skidded in Europe and Asia after Wall Street tumbled as bond yields tightened their chokehold. Sentiment also dimmed after some of the most influential companies turned in mixed profit reports. Tokyo's Nikkei 225 and the Kospi in Seoul were more than 2% lower. U.S. futures slipped and oil prices also fell.

FILE - A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, on Oct. 11, 2023. Shares skidded Thursday, Oct. 26 in Asia after Wall Street tumbled as bond yields tightened their chokehold. People visit Tokyo Stock Exchange in Tokyo, Aug. 18, 2023. Shares skidded Thursday, Oct. 26, 2023 in Asia after Wall Street tumbled as bond yields tightened their chokehold.

The yield on the 10-year Treasury has nudged back up toward 5%. It was at 4.95% early Thursday after dipping to 4.82% late Tuesday. Sydney’s S&P/ASX 200 shed 0.6% to 6,812.30. In Bangkok, the SET sank 1.4%, while Taiwan’s Taiex fell 1.7%.have been knocking the stock market lower since the summer. The 10-year yield has been catching up to the Federal Reserve’s main interest rate, which is above 5.25% and at its highest level since 2001 as the central bank tries to get inflation under control.

 

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