Stocks Sink as Bond Yields Surge, Big Tech Earnings Loom

Stocks fall as 10-year Treasury yield tops 5% for first time since 2007, adding pressure amid earnings season.

Big tech giants Microsoft, Alphabet, Meta and Amazon report earnings this week, making up 17% of S&P 500 index.

Surge in bond yields hurting stocks as higher returns on risk-free debt dampen demand for equities.

Delay in electing House speaker raises risk of government shutdown, pushes yields higher.

European stocks also drop as bond yields there climb, mirroring pressure on Wall Street.