Stocks Slump as Treasury Yields Top 5% for First Time Since 2007

Stocks fell broadly as 10-year Treasury yield topped 5% for the first time since 2007, fueling concerns about economic growth.

Most markets declined, with Europe's Stoxx 600 index down 0.6% and copper hitting an 11-month low.

Earnings misses from Volkswagen and Royal Philips weighed on sentiment.

Tensions remain high in Middle East, though Israel has paused Gaza ground offensive for now.

Argentina assets sank after presidential vote signaled diminished prospects for market-friendly candidate.