Finance

Sovereign debt markets came under severe pressure, pushing the 30-year Treasury yield to its highest point since 2002. Investors are treading cautiously ahead of the afternoon release of the Federal Open Market Committee minutes to gauge future path and appetite for interest rate adjustments.

Energy markets drove a shift in sentiment as advancing crude prices introduced fresh inflationary anxieties across global markets. Ongoing concerns regarding maritime attacks in the Strait of Hormuz have further complicated the macroeconomic picture, keeping equity valuations constrained.

The tech sector experienced a cooling trend as investors assess whether massive capital expenditure on artificial intelligence infrastructure will produce adequate returns. Despite the pullback, headlines were captured by reports that SpaceX is engaging with major financial institutions to secure immense funding specifically for purchasing advanced graphic processors.