LONDON—Stocks tumbled on Thursday, under pressure from investor caution over the Middle East conflict and from the largest one-week rise in 10-year Treasury yields in 18 months, ahead of remarks by Federal Reserve Chair Jerome Powell and a heavy earnings day.
Investors are juggling two competing themes in the market right now—that of an outlook of sky-high interest rates for an extended period of time, and that of a war with the potential to upend global geopolitics.
