Finance

Tech heavyweights experienced widely contrasting fortunes following their quarterly financial results. Amazon shares skyrocketed nearly 16% on the back of accelerating sales growth in its cloud-computing division, marking a massive single-day market value gain. Conversely, Apple shares plunged 7.4% and erased roughly $358 billion in market capitalization after posting a lackluster revenue forecast.

Bond market pressures intensified as the benchmark 10-year Treasury yield climbed past 4.7%, hitting its highest mark since January 2025. Simultaneously, the 30-year yield advanced to 5.274%, reaching a 19-year high. Investors sold off bonds after three Federal Reserve policymakers revealed they had voted against keeping interest rates steady, preferring a quarter-point rate hike instead.

Digital assets decoupled from the broader equity rally as Bitcoin slipped below the $63,000 threshold and Ethereum saw similar declines. Market sentiment was dampened by lagging legislative momentum regarding the U.S. Senate's CLARITY Act, which is vital for providing domestic crypto market regulation. Additionally, ongoing geopolitical friction between the U.S. and Iran pushed energy costs higher, prompting traders to reduce risk exposure.