Global stocks face largest weekly drop since July
Global stocks experienced a significant decline during the week, marking their largest loss since mid-July, due to pressures in the bond markets and rising oil prices following the escalation of U.S. sanctions on Iran. U.S. Treasury yields resumed their upward trend, with the 30-year bond yield reaching 5.25%, amid concerns over inflation and the U.S. national debt surpassing $40 trillion, which dampened investors' risk appetite. Oil prices surged by over 5% during the week, amid expectations that the United States will impose the strictest sanctions on Iran. Gold prices increased on the back of a weakening dollar and investors' fears regarding U.S. debt, while Bitcoin saw a significant rise of around 20%.
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