London — World stocks were in their biggest two-day dive in six months on Tuesday and commodities were also jammed in reverse, as rising US borrowing costs cooled financial markets’ euphoric start to the year. The move above 2.7% by US treasury yields — the benchmark for world lending rates — helped the dollar off the canvas, though that was part of the issue. Oil slid back below $70, metals buckled, and Asian stocks saw their biggest fall since early December after Wall Street suffered its largest drop in five months after worries about Apple’s iPhone sales. Despite an easing of yields in Europe its stocks duly followed. The pan-regional STOXX 600 dropped 0.5% as traders took aim at cyclical sectors, such as mining and financials after their strong run this month. "The big picture view is that the rising US yields have finally come to the dollar’s rescue," said Société Générale strategist Alvin Tan. "It didn’t respond for weeks, but as yields have broken above 2.7%, it finally has....

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