Global shares retreat as tech megacaps falter; dollar strengthens against yen

Global equity markets slipped with heavyweights such as Meta Platforms Inc. and Microsoft dragging indexes lower. Meta dropped nearly 11% after its bond-issuance intentions raised investor concern over spending discipline. Concurrently, the U.S. dollar climbed against the Japanese yen after rate-cut expectations were pared following remarks from Federal Reserve Board Chair Jerome Powell that another cut this year may not happen. The STOXX 600 and MSCI Asia-Pacific indexes both turned negative, while Treasury yields hovered near 4.10%. The turn highlights investor judgements shifting from hope to caution amid macro- and tech-uncertainty.