Finance

Long-term government bond yields surged across major economies as investors weighed the impacts of stubborn inflation and heavy fiscal deficits. The U.S. 30-year Treasury yield rose to roughly 5.34%, hitting its highest mark since 2007, while sovereign bond yields in Japan, France, and Germany also recorded multi-year or multi-decade highs.

Higher financing and corporate borrowing costs hit growth-oriented and high-beta assets particularly hard, causing tech and semiconductor equities to lead market declines. Megacap companies like Meta Platforms, Microsoft, and Nvidia faced distinct selling pressure, pushing the Nasdaq Composite downward ahead of the Federal Reserve's upcoming policy meeting minutes.

In a rare decoupling from traditional equities, Bitcoin edged upward to trade around the $64,000 range while traditional stock markets retreated. Despite facing seasonal volatility and capital rotation into artificial intelligence sectors over the past year, the leading digital token managed a minor daily recovery, bucking the negative trend seen across global stock benchmarks.