Finance

The July Personal Consumption Expenditures price index revealed that inflation remains elevated, prompting investors to brace for potential interest rate hikes from the Federal Reserve later this year. Following the slightly hotter-than-expected macro print, the 10-year U.S. Treasury yield ticked upward to settle around 4.67%.

Trading volumes across domestic exchanges fell significantly below their long-term average as market participants held off on significant risk-taking. Most eyes remained fixed on artificial intelligence bellwether Nvidia, which slid more than 1% during regular hours but saw high expectations for its upcoming second-quarter financial results.

The leading cryptocurrency stabilized around the $78,500 level, pulling back slightly after crossing above $80,000 for the first time in three months on Tuesday. The recent price surge was fueled by institutional inflows and a surprise move by the U.S. Treasury to expand its long-term bond-buying program, though the momentum has begun to plateau as investors lock in near-term profits.