Finance

Global energy benchmarks dropped sharply on Tuesday, with Brent crude falling over 3% to dip below $88 a barrel. The decline occurred despite the escalation of U.S. economic sanctions against Iran under an "economic D-Day" strategy. Market participants appeared less fearful of immediate energy supply disruptions following constructive maritime consultations between Iran and Oman regarding safe passage through the Strait of Hormuz.

U.S. government bond yields dropped for a second consecutive session, providing a supportive backdrop for equities. The 10-year Treasury yield slid to around 4.64%, and the 30-year yield moved lower toward 5.19%. Borrowing costs eased as investors continued to react to Treasury Secretary Scott Bessent's tactical decision to double the size of the department's long-term bond repurchase program.

Bitcoin momentarily crossed above the $80,000 threshold on Tuesday morning for the first time in three months, touching an intraday peak of over $11,200 before scaling back. The surge was fueled by growing concerns over potential dollar debasement linked to expanded Treasury buyback interventions. Positive investor sentiment following a high-profile White House meeting between political leaders and prominent cryptocurrency firms also bolstered alternative assets.