Finance

The 10-year U.S. Treasury note yield jumped to 5.11%, reaching heights not seen since 2007. This aggressive bond sell-off was exacerbated by a soft $70 billion five-year note auction, where investors demanded steep returns and generated weak demand metrics. Higher yields continue to sap investor appetite for equities across multiple sectors.

Crude oil futures moved higher on Wednesday, reversing earlier losses and placing further pressure on global markets. Ongoing uncertainty surrounding geopolitical conflicts, notably involving the U.S. and Iran, has raised the floor for global benchmarks like WTI and Brent crude. These compounding energy factors have forced investors to price in a higher probability of near-term interest rate hikes by the Federal Reserve.

Digital assets echoed the broad risk-off sentiment felt in traditional equity markets. Bitcoin slipped lower to hover near the $85,000 range, while Ether posted losses of well over one percent to trade around $2,715. The broader Nasdaq Crypto Index ultimately finished the session down roughly 0.72%.