LONDON/SINGAPORE—Stocks fell on Wednesday as an ongoing rout in global bond markets saw U.S. bond yields reach 16-year highs, challenging equity valuations and souring appetite for risk assets as investors bet interest rates will remain persistently high.
European stocks tumbled as much as 0.6 percent before clawing back some ground, with indexes in France and Germany both posting losses. The moves came after Asian shares sank to 11-month lows.
