Finance

The 10-year U.S. Treasury yield experienced a significant surge, climbing past 5% to reach its highest level since 2007. The bond selloff was accelerated by a fresh S&P Global report indicating that business activity and underlying costs are expanding at the quickest pace in years. This hotter-than-expected economic indicator intensified concerns that the Federal Reserve may implement another interest rate hike before the end of the year.

Crude oil futures turned higher on Wednesday, snapping a five-day losing streak as geopolitical uncertainty dominated the energy sector. West Texas Intermediate futures rose above $92 per barrel while Brent crude hovered near the $100 threshold. Market volatility expanded following statements at the United Nations General Assembly, where Iranian officials rejected external pressure despite ongoing lower-level diplomatic talks with U.S. envoys.

Despite a minor intraday cooling, Bitcoin preserved most of its recent multi-day gains, trading comfortably above the $85,000 threshold. The overall cryptocurrency market capitalization stayed strong at nearly $2.94 trillion, supported by an unwinding of short positions and sustained exchange-traded fund demand. Analysts noted the recent bullish price movement has largely helped the digital asset sector recover its cumulative losses for the year.