Global Stocks Mixed Amid Wall Street Losses, Rising Treasury Yields

Global stock markets were mixed on Tuesday following losses on Wall Street, while U.S. Treasury yields paused their rise after reaching their highest level in roughly two decades.

The S&P 500 slipped 0.8%, the Dow Jones Industrial Average fell 0.7%, and the Nasdaq composite dropped 0.9% on Monday. Stocks have been pressured by rising U.S. Treasury yields as investors demand higher returns amid growing concerns about inflation and rising government debt.

The yield on the 10-year U.S. Treasury was at about 5.24% early Tuesday, near its highest since 2007. This has led to central banks raising interest rates to help curb inflation. The Australian central bank lifted its benchmark rate on Tuesday for the fourth time this year, taking it to the highest level in 15 years.

Oil prices remained elevated as mediators continued to work with the United States and Iran on reaching a deal to end the fighting and open the Strait of Hormuz. Brent crude, the international standard, fell 0.3% to $97.55 a barrel after rising earlier.