Global Markets-Bond yields jump, oil extends gains as US-Iran ceasefire expires

S&P 500 e-mini futures EScv1 slumped 0.2% as MSCI's broadest index of Asia-Pacific shares outside Japan .MISX00000PUS slid 0.3%, reversing early gains as stocks in Taiwan and China weighed on the benchmark.

South Korea's KOSPI .KS11 erased an early gain of more than 3% as the Seoul market returned after a holiday to trade flat, while the Nikkei 225 .N225 fell 1.6%.

Overnight on Wall Street, the S&P 500 .SPX slipped 0.5% while the Nasdaq Composite .IXIC edged 0.3% lower as soft U.S. economic data, including an unexpected drop in retail sales, led traders to reduce bets on an imminent Fed interest rate move.

"Markets adopted a generally risk-off tone as President Trump reaffirmed he was not interested in extending the truce with Iran," Westpac analysts wrote in a research note.

Bond yields climbed on Tuesday to their highest in decades, with oil prices rising for a third day, while stocks gave up early gains in Asian trade as a U.S.-Iran truce expired and Tehran threatened to adopt a "fully offensive" military posture.