Finance

The yield on the benchmark 10-year Treasury note fell below 4.5% as a significant drop in crude oil prices eased immediate inflation concerns. Both Brent and West Texas Intermediate futures declined over 4% to reach their lowest levels since before the start of the conflict in Iran, following reports of potential improvements in maritime traffic through the Strait of Hormuz.

Gold prices plummeted below the $4,000 per ounce threshold on Wednesday, driven by a strengthening U.S. dollar and intensifying expectations of further Federal Reserve interest rate hikes. This broad commodity selloff also extended to silver, which saw a decline of over 4.5% as investors shifted away from non-yielding assets ahead of critical inflation data releases.

The U.S. dollar index surged to its highest level since May 2025 as persistent market volatility and hawkish signals from Federal Reserve officials drove demand for the currency. Investors increasingly sought the dollar as a safety play following recent instability in technology equities and ongoing geopolitical uncertainties regarding U.S.-Iran framework agreements.