Surging Bond Yields and Strong Dollar Spark Global Growth Fears

U.S. long-term bond yields surge as investors fear higher rates will cause financial distress.

Renewed fiscal battles in Congress reduce chances of reining in deficits, fueling yield spike.

Fed continues to signal higher rates needed despite turmoil in markets.

Stock markets drop globally on growth fears from yields, strong dollar, and earnings season.

Dollar remains strong as BOJ struggles to defend weakening yen.