Finance

The yield on the 10-year U.S. Treasury note surged above 4.5% to its highest level in a year, reflecting investor anxiety over persistent inflationary pressures. Simultaneously, the 30-year bond yield exceeded 5.1% as markets reacted to a Producer Price Index that rose 6% year-on-year and a newly confirmed Federal Reserve leadership transition.

Technology stocks led the broader market decline, with industry leader NVIDIA dropping over 4.5% despite earlier gains and optimistic updates on chip exports. While Cisco Systems surged 13.4% on a robust networking outlook, other major chipmakers like Intel and Micron saw sharp retreats as part of a widespread rotation out of high-valuation tech assets.

Digital assets traded broadly lower today, with Bitcoin slipping back below the $80,000 mark despite the Senate Banking Committee's approval of the Digital Asset Market Clarity Act. While major tokens like Ethereum and XRP faced rejection at key technical levels, smaller altcoins such as Hyperliquid's HYPE token managed to outperform the broader market with double-digit gains.