Global markets fell as strong U.S. economic data and rising oil prices increased expectations of higher interest rates, according to The Wall Street Journal. The 10-year Treasury yield climbed to 5.138%, near its highest level since 2007, while the 30-year yield reached its highest intraday level since 2004.
Higher borrowing costs pressured stocks, with Nasdaq futures down 0.7% and S&P 500 futures off 0.5%. Oil rose above $104 a barrel as U.S.-Iran talks stalled, while the dollar strengthened and gold and bitcoin weakened. Investors are also watching the upcoming Trump-Xi summit for signs of progress on trade and AI cooperation.
