Global markets tumble as bond yields surge despite tech stock gains

Global bond market volatility has pressured stock indexes, with the S&P 500 tracking toward sustained losses. The 10-year Treasury yield has climbed near its highest level since 2002, raising alarms for real-estate stocks. Oil prices have also climbed, adding to persistent inflation pressures, though economic reports show the US economy maintaining resilience despite headwinds.

Technology stocks have shown relative strength, buoyed by better-than-expected earnings from chipmaker Micron Technology. The mixed signals reflect investor uncertainty between optimism in select growth sectors and caution around rising borrowing costs.