Global bond yields surge to multi-decade highs, pressuring European equities

Government bond yields in the US, UK, and France have risen to levels not seen since around 2000, triggering a sell-off in European equities. The FTSE 100 fell 1.7% to its lowest since June, and the DAX dropped over 1% to a two-month low. The sustained rise in yields signals tightening financial conditions, increasing borrowing costs for governments and pressuring risk assets.