US STOCKS-Wall St set to open lower on global bond rout
* AOL shares jump after Verizon deal for $4.4 bln
* 10-yr U.S. Treasury yields at 6-month high
* Futures down: Dow 101 pts, S&P 11 pts, Nasdaq 31.25 pts (Adds details, comment, updates prices)
By Tanya Agrawal
May 12 (Reuters) - Wall Street was set to open lower on Tuesday as a global bond sell-off and concerns over Greece's perilous financial situation weighed on the market.
Ten-year U.S. Treasury yields, the benchmark for global borrowing costs, hit their highest since mid-November. Elevated yields mean higher corporate borrowing costs, which affect shares across the world.
"The bond sell-off is knocking the wind out of equities," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.
"With bond yields moving up, this could be the catalyst for the market to correct."
The U.S. stock market has been trading at historically expensive valuations, fueled by ultra-low borrowing costs. Continuación...