Overview
- Long‑term sovereign yields climbed to multi‑decade highs, with the U.S. 30‑year Treasury near 5.33% after a steep global bond selloff that accelerated Tuesday.
- Brent crude pushed toward or above $90 a barrel as talks between the United States and Iran stalled and traders priced sustained risk to shipping through the Strait of Hormuz.
- Major U.S. equity indexes fell for a third straight session as technology and AI‑linked semiconductor stocks, including Nvidia, Micron, Intel, Samsung and SK Hynix, posted heavy losses.
- Investors are focused on the Federal Reserve’s July meeting minutes and upcoming central‑bank commentary in Jackson Hole for clues on whether policy will stay tighter for longer to curb higher inflation.
- Higher oil and yields are raising borrowing costs for governments, companies and consumers, threatening more expensive mortgages and heavier funding costs for data‑centre and AI infrastructure projects while some crypto assets showed relative resilience.