Global Stocks Slide as Yields Hit New Heights

The global stock market experienced a decline on Tuesday despite oil prices retreating from their recent surge. The US 30-year Treasury yield reached 5.62 percent, its highest level in 24 years, while the benchmark 10-year yield stood at 5.25 percent, its highest since 2007.

Art Hogan of B. Riley Wealth Management attributed the lack of response from investors to the decrease in oil prices, stating that 'higher yields continue to pose a significant headwind for investors.' The Dow Jones fell 0.26 percent, and the Nasdaq index dropped 0.09 percent.

The S&P 500 index lost 0.17 percent as investors awaited key inflation data from the Federal Reserve's preferred inflation gauge, PCE, on Wednesday, as well as official jobs numbers on Friday.