Finance

Treasury yields climbed sharply following the latest labor market figures, with the 10-year note jumping past 4.5% and the 30-year yield exceeding 5%. Market participants have notably increased their bets on a year-end interest rate hike, with probability estimates rising from 48% to nearly 70% in a single day.

Chip stocks experienced significant downward pressure after Broadcom's latest earnings report maintained existing AI chip targets rather than raising them. This sparked a broader industry retreat, with Nvidia and Micron Technology seeing substantial losses as investors reassessed lofty valuations in the artificial intelligence space.

Cryptocurrency markets extended their losing streak as Bitcoin fell toward the $60,000 threshold amid record outflows from spot ETFs. The digital asset has lost approximately 20% of its value since mid-May, pressured by cooled risk appetite and reports of significant holdings being liquidated by major corporate investors.