London — World shares were on their longest losing streak of the year on Wednesday, as a rise in US bond yields above 3% and warnings from top global firms about rising costs fed fears a boom in earnings may have peaked. All eyes will be on scandal-hit social network Facebook later when it reports its results although there was plenty keeping investors occupied till then. Falls in Asia’s and then Europe’s main bourses pushed the 47-country MSCI world share index down for a fifth day running to its lowest level in over two weeks. Tech-heavy Taiwan shares had hit two-month lows as global worries about a slowdown in gadget demand spread, while fast-charging oil firms also eased back as crude prices came off three-and-a-half-year highs. The benchmark US 10-year treasury yield was still pushing further beyond 3% in early European trade though, having broken the key level on Tuesday for the first time since the start of 2014. This has been down to a mix of factors. A strong US economy and...
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