Finance

Yields on U.S. government debt jumped significantly after reports indicated rapid expansion in both business activity and input costs. The benchmark 10-year Treasury yield surged past 5.1%, reaching levels not seen since 2007, while a soft five-year note auction required a multi-decade high payout to attract buyers.

Despite broad selling pressures affecting nearly all major sectors, energy stocks managed to post strong positive gains. Individual companies like APA and Devon Energy advanced significantly, leveraging a reversal in crude oil prices which bounced back above $92 per barrel after a multi-day decline.

The cryptocurrency market faced a noticeable pullback as Bitcoin declined nearly 4% from its intraday peak, slipping beneath the $84,000 mark. The slide in digital asset valuations was largely driven by escalating geopolitical tensions in the Middle East and renewed market expectations of hawkish Federal Reserve interest rate moves.