Japan's 10-year gov't bond yield rises to 29-year high

Japan's benchmark 10-year government bond yield hit 2.590 percent on Wednesday, the highest level since May 1997.

The 10-year bond yield serves as a key indicator of long-term interest rates in Japan.

Bond prices and yields move in opposite directions. When investors actively purchase government bonds, prices rise and yields fall. Conversely, when bonds are sold off, prices drop and yields increase.

Japan's 10-year gov't bond yield rises to 29-year high

Japan's 10-year gov't bond yield rises to 29-year high

European stocks closed lower on Tuesday.

The benchmark FTSE 100 Index in London slipped 0.04 percent to close at 10,265.32 points. In Paris, the CAC 40 Index closed at 7,979.92 points, down 0.95 percent. The German stock market index DAX fell 1.62 percent to end the session at 23,954.93 points.

European stocks close lower