US stocks tumble as 10-year Treasury yield hits 5% for first time since 2007

• US stocks tumbled on Monday as bond yields continued to surge.
• The yield on the 10-year US Treasury topped 5% for the first time since 2007.
• Mega-cap tech giants Alphabet, Microsoft, Meta, and Amazon all report later this week. 

US stocks slid on Monday as the 10-year Treasury yield briefly topped 5%, breaching that threshold for the first time since July 2007.

Yields have been surging recently on concerns over the US debt and the impact of tighter financial conditions, amid one of the worst Treasury bond crashes in history.