Stocks Slide as Rising Borrowing Costs Strike Again

A woman uses a mobile phone in front of an electric board displaying the Nikkei stock average outside a brokerage in Tokyo, Japan, on June 14, 2023. Kim Kyung-Hoon/Reuters

LONDON—World stocks fell for a third straight day on Thursday, after Federal Reserve meeting minutes bolstered bets on another U.S. rate hike this month and tit-for-tat trade salvos between China and the United States also dampened sentiment.

Traders watched the traditional driver of global borrowing costs, the 10-year U.S. Treasury yield, climb to a fresh four-month high and there were plenty more boundaries tested as Europe got into its stride.