"Global Stocks Tumble as 10-Year Treasury Yield Surpasses 5% Milestone"

Global stocks experienced a significant decline as the 10-year Treasury yield surpassed 5%, raising concerns about the impact of rising borrowing costs on economic growth. The yield on the 10-year bond reached its highest level since 2007, leading to a retreat in stock markets. Weaker-than-expected earnings from companies like Volkswagen and Royal Philips also contributed to the negative sentiment. Investors are becoming more bearish on risk assets as the bond selloff intensifies, prompting a shift towards safer investments like Treasuries.