World Markets Tracks US Falls

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Global stocks fell after bond yields rose, putting pressure on tech stocks, causing the S&P 500 to fall since May.

In a Wednesday morning deal in Tokyo, Japan’s Nikkei 225 index fell 2.6%, while Seoul’s Kospi Composite fell nearly 2%. Australia’s S&P/ASX 200 fell 1.5%.

However, US stock futures edged up marginally, suggesting that Wednesday’s trading may be gaining some ground in the US market. Futures related to the S&P 500, Nasdaq 100 and Dow Jones Industrial Average 30 stocks rose between 0.3% and 0.4%.

In Hong Kong, the city’s leading Hang Seng index fell 0.2%, and Chinese tech stocks fell after US peers. Sector Heavyweight Tencent Holdings Co., Ltd...

TCEHY -2.21%

Food delivery giant Meituan fell 3.7% compared to 3%.

Chinese Stock Evergrande Group EGRNF 5.00%

It rose nearly 5% after an ailing real estate giant said it agreed to sell some of its stake in a local bank in China for more than $1.5 billion.

Bond yields, which rise with falling prices, hit a record high since June after the benchmark 10-year government bond yield reached 1.534% on Tuesday. According to Tradeweb, the 10-year government bond yield was 1.539% in a transaction in Hong Kong on Wednesday morning.

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