Stock market today: Global shares decline as higher Treasury yields weigh on stocks

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In Asian trading, Japan's benchmark Nikkei 225 shed 0.8% to 38,556.87. Australia's S&P/ASX 200 dipped 1.3% to 7,665.60. South Korea's Kospi lost 1.7% to 2,677.30. Hong Kong's Hang Seng slipped 1.8% to 18,477.01, while the Shanghai Composite was little changed, edging up less than 0.1% to 3,111.02.saying it expects the No. 2 economy to grow at a 5% annual pace this year. But it also warned that consumer-friendly reforms are needed to sustain strong, high-quality growth.

On Tuesday, the S&P 500 closed little changed, just below its record set a week ago. The Dow Jones Industrial Average fell 0.6%, while gains in technology stocks pushed the Nasdaq composite up 0.6% to another all-time high.

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