On Wall Street, the Dow Jones Industrial Average dropped 0.2% to 42,141.54, the S&P 500 declined 0.3% to 5,813.67, and the Nasdaq Composite fell 0.6% to 18,607.93.
The benchmark 10-year U.S. Treasury yield was at 4.303% last night, following a near four-month peak of 4.339% reached on Tuesday.
Asian markets slid on Thursday as declines in U.S. stocks and bonds followed strong economic data, clouding expectations for imminent Federal Reserve rate cuts.
Shares in Australia and Japan opened lower, and an index of U.S.-listed Chinese companies edged down in New York trading on Wednesday.
Treasuries held steady in Asian trading, while yields in Australia and New Zealand rose. A global bond index fell to its lowest level in nearly three months on Wednesday, as traders reduced bets on policy easing after data showed robust U.S. economic growth in the third quarter, driven by increased household spending and defense expenditure.
The possibility of a Donald Trump win in next week’s U.S. presidential election also stirred concerns over inflation.
Elsewhere in Asia, the yen remained stable around 153 per dollar ahead of the Bank of Japan’s interest rate decision, which is expected to remain at 0.25%. In Taiwan, the stock exchange will suspend trading on Thursday as a powerful typhoon approaches the archipelago.
