Global Stocks Slip as Bond Yields Rise, Disney Boosts Entertainment Sector

Global equities opened the week on a downward trajectory, pressured by rising U.S. and Japanese government bond yields following comments from the Bank of Japan. The uptick in yields added headwinds to stock markets worldwide, pushing major indexes lower.In Europe, the Euro Stoxx 50 dropped 0.6%, while Japan’s Nikkei tumbled 1.9%. Meanwhile, China’s Shanghai Composite bucked the trend, rising 0.7% to close at a one-week high. Cryptocurrency markets also retreated after statements from the People’s Bank of China, further weighing on tech-related and crypto-linked stocks.

Several prominent crypto-related companies, including Coinbase, Riot, and Marathon, saw declines exceeding 5%, reflecting investor caution. In contrast, the entertainment sector showed resilience, particularly operators of nightclubs and casinos, benefiting from a 14.4% surge in Macau revenues.

Energy stocks, including Valero, Chevron, and Occidental, climbed alongside crude oil prices, which hit their highest level in a week. Disney shares gained more than 1% following the success of Zootopia 2 in China, which grossed $272 million over the past weekend.Overall, higher bond yields and weakening digital currencies put pressure on U.S. equities, while investors await key economic data that could signal the Federal Reserve’s next policy moves. Markets are also watching closely for remarks from Fed Chair Jerome Powell, looking for hints on the future direction of monetary policy.