GLOBAL MARKETS-Tepid US data hits stocks, lifts Treasury yields to over 5-month high

Stocks snapped a three-day winning streak on Thursday as disappointing forecasts from Facebook and Instagram owner Meta hammered the tech sector, and Japan's yen sank through 155 per dollar for the first time since 1990. U.S. Treasury yields hit their highest in over five months after the data showed signs of persistent inflation, lowering hopes that the Federal Reserve will cut interest rates anytime soon. U.S. Treasury Secretary Janet Yellen told Reuters that U.S. economic growth was likely stronger than suggested by weaker-than-expected data on first-quarter output and said the Biden administration was keeping all options open to respond to threats from China's excess industrial capacity.