Finance

U.S. retail sales experienced a notable acceleration in August, climbing 1.2% to outperform consensus forecasts of a 0.8% expansion. This positive consumer performance effectively reversed a previously recorded contraction from July. Analysts highlighted the data as a clear indicator of persistent consumer resilience, although it also underscores ongoing domestic demand that complicates the central bank's inflation target.

The 10-year U.S. Treasury yield hovered near 5%, marking its highest tier since the global financial crisis. Concurrently, international energy markets remained highly strained as benchmark crude prices lingered above $100 per barrel due to geopolitical tensions and a pipeline shutdown in Saudi Arabia. The combined surge in borrowing costs and energy prices has exacerbated concerns that sticky core inflation will pressure the economic landscape.

Digital assets faced significant downward pressure after the U.S. Senate failed to pass a crucial procedural vote for the CLARITY Act, a legislative framework intended to establish regulatory guidelines for the sector. Following the legislative gridlock, Bitcoin plummeted toward the $75,000 threshold, while other major tokens like XRP and Shiba Inu logged steeper losses. The sell-off was further amplified by risk-off sentiment hitting the broader markets ahead of macro economic announcements.