Finance

Varying financial guidance from megacap technology firms created a stark performance divide across sectors. Amazon surged 15% on accelerating cloud-computing revenue, while Apple experienced its largest one-day market capitalization decline on record following a lackluster revenue outlook.

Bond market yields surged across the curve as investors grappled with prolonged inflation concerns and hawkish internal resistance within the Federal Reserve. The 10-year Treasury note yield rose past 4.7%, its highest mark since January 2025, while the 30-year bond yield climbed to a notable 19-year high.

Digital assets decoupled from the broader stock market rally as Bitcoin slipped beneath the $63,000 threshold, erasing a substantial amount of leveraged long positions. The digital asset correction was aggravated by an earnings miss from a major cryptocurrency exchange and an apparent lack of progress on long-awaited U.S. Senate regulatory legislation.