Stock market today: Asian shares slip further as higher US 10-year Treasury yield pressures Wall St

Asian shares have retreated as the prospect of a 5% yield on the 10-year U.S. Treasury for the first time since 2007 added to pressure on Wall Street. Crude oil prices were higher and U.S. futures declined. On Thursday, the S&P 500 lost 0.8% following a mixed set of profit reports from Tesla, Netflix and other influential companies The Dow Jones Industrial Average fell 0.8% and the Nasdaq composite dropped 1%. Stocks felt pressure from the bond market, where rapidly rising yields have been squeezing Wall Street since the summer. The yield on the 10-year Treasury touched 4.99% before paring its gain.