Finance

Treasury yields spiked globally following hawkish signals from central bankers and compounding inflation concerns. The benchmark U.S. 10-year Treasury yield surged past 4.8%, reaching its highest point in nearly two years as the market factored in the potential for an upcoming interest rate hike.

Crude oil prices advanced sharply following direct exchanges of military strikes between the United States and Iran near the Strait of Hormuz. International standard Brent crude topped 95 dollars per barrel, fueling expectations of prolonged supply constraints and sticky consumer price metrics.

Defying the broader market downturn, shares of Dell Technologies advanced significantly in extended and pre-market trading. The tech hardware maker posted record second-quarter financial results driven by a massive backlog in artificial intelligence server orders, leading management to boost its full-year guidance.