New York — A gauge of world stocks dipped on Tuesday, relinquishing earlier gains after US bond yields crossed the 3% threshold for the first time in four years, while oil prices stretched above the $75 a barrel mark.Equities in Europe hit session lows and US stocks lost ground after the US 10-year treasury yield crossed the 3% mark to a high of 3.003%, its highest level since January 2014. In addition, the two-year yield touched 2.5% for the first time since September 2008.Benchmark 10-year notes last fell 6/32 in price to yield 2.9939%, from 2.973%, late on Monday.The move higher in yields dampened the appetite for stocks, which had been higher on the back of a strong batch of earnings from names such as Verizon, up 1.94% and Caterpillar, up 2.88%."The market has to get used to the notion that this could be just another step in reversing a trend that has been in place in the market for nearly four decades," said Frank Cappelleri, technical market analyst and trader at Instinet in ...
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