LONDON (Reuters) - World shares were on their longest losing streak of the year on Wednesday, as a rise in U.S. bond yields above 3 percent and warnings from top global firms about rising costs fed fears a boom in earnings may have peaked.

The DAX (German stock index) logo is seen at the stock exchange in Frankfurt, Germany, March 23, 2018. REUTERS/Kai Pfaffenbach

All eyes will be on scandal-hit social media firm Facebook later when it reports its results though there was plenty keeping investors occupied till then.

Falls in Asia’s and then Europe’s main bourses pushed the 47-country MSCI world share index .MIWD00000PUS down for a fifth day running to its lowest level in over two weeks.

Tech-heavy Taiwan shares .TWII had hit two-month lows as global worries about a slowdown in gadget demand spread, while fast charging oil firms .SXEP also eased back as crude prices LCOc1 came off 3-1/2 year highs. [O/R]

The benchmark U.S. 10-year Treasury yield was still pushing further beyond 3 percent US10YT=RR in early European trade though, having broken the key level on Tuesday for the first time since the start of 2014.

It has been down to a mix of factors. A strong U.S. economy and rising commodity prices which are upping the chance of more U.S. interest rate hikes, as well higher debt and improving relations between Washington and China and North Korea.

“The now healthier global economy justifies these higher yields,” said JPMorgan Asset Management’s Seamus Mac Gorain.

“We expect 10-year Treasuries to end the year between 3 and 3-1/2 percent. A move beyond this level would likely require an acceleration of inflation in the euro zone and Japan, which is not yet evident.”

Euro zone bond yields —

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