Shares Drop for Third Day, Yields Soar as Markets Brace for Rate Hikes

A man stands in front of a screen displaying Nikkei share average and the world's stock indexes outside a brokerage, amid the coronavirus disease (COVID-19) outbreak, in Tokyo, Japan on Dec. 30, 2020. Issei Kato/Reuters

LONDON—Global shares fell for a third successive day on Tuesday, while bond yields on both sides of the Atlantic soared on anxiety over when central banks might raise interest rates.

MSCI’s All Country World Index, which tracks shares across 49 countries, was down 0.3 percent on the day after the start of trading in Europe.