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

BANGKOK — Shares skidded Thursday in Europe and 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. High yields whittle away at prices for stocks and other investments while slowing the overall economy and adding pressure to the financial system. They tend to take the biggest toll on stocks seen as pricey or those requiring their investors to wait the longest for big growth. That puts the spotlight on internet-related, technology and other high-growth stocks. Sharp drops of 5.6% for Amazon, 4.3% for Nvidia and 1.3% for Apple were the heaviest weights on the S&P 500 on Wednesday.

The gap between the minus 0.1% Japanese benchmark rate and much higher rates in the U.S. and elsewhere has driven the dollar's value sharply higher against the yen. To a certain extent, that's a boon for export manufacturers who register much higher profits in yen back home, but it undercuts the currency's purchasing power for imports.

The founder of Chinese property developer Evergrande — who was once Asia's second-richest person — is no longer a billionaire

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Wall Street opens higher as pace picks up for corporate profitsNEW YORK (AP) — Stocks are opening higher on Wall Street after Coca Cola, General Electric and other big companies reported fatter profits for the summer than expected. The S&P 500 was 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street rises after corporate profits top forecasts and oil prices sink moreNEW YORK (AP) — Wall Street closed higher after Verizon and other big companies reported fatter profits for the summer than expected. The S&P 500 rose 0.7% Tuesday. The Dow added 204 points, and the Nasdaq composite climbed 0.9%.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street tumbles back to where it was in MayNEW YORK (AP) — Wall Street sank back to where it was in May, pulled down by steep drops in several Big Tech companies. The S&P 500 fell 1.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: World shares mixed after China pledges more support for slowing economyBANGKOK (AP) — World shares were mixed Wednesday after China pledged more spending to energize its economy. Benchmarks fell in Paris, Frankfurt, Sydney and...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

US futures rise amid earnings deluge, with big techs to come: Stock market news todayEyes are on results from Microsoft and Alphabet, the highlights in an avalanche of earnings reports on Tuesday.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »