Finance

Sovereign bond volatility spiked as the 10-year and 30-year U.S. Treasury yields touched their highest points in over two decades. Yields slightly paired back their peak intraday gains following a well-received $39 billion auction of 10-year notes. Elevated fixed-income yields continue to exert pressure on equities as markets reassess long-term borrowing costs.

Oil prices fluctuated but stayed notably elevated, with Brent crude tracking around the $100 per barrel mark. Market participants are increasingly anxious over escalating geopolitical disruptions, specifically a rise in Iranian attacks on cargo vessels in the Strait of Hormuz. These ongoing energy complications are amplifying fears about sustained inflationary pressures on the broader economy.

The total valuation of the digital asset sector dipped by 3% to sit at approximately $2.85 trillion as risk aversion rippled through financial markets. Major cryptocurrencies absorbed the brunt of the downturn, with Bitcoin sliding below $84,000 and Ethereum losing close to 5% of its value during the session. Shares of prominent crypto-exposed companies like Coinbase and Robinhood also faced downward pressure.