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Global stocks drop to one-week low
Global stocks retreated to their lowest levels in a week amid rising oil prices and increasing expectations of an additional interest rate hike by the U.S. Federal Reserve. The most significant factor was the surge in U.S. Treasury yields to their highest levels since 2007, with the 10-year bond yield reaching 5.25% and the 30-year yield climbing to 5.56%. Additionally, rising oil prices, which reached around $106.87 per barrel, unsettled investor sentiment, especially as optimism about a diplomatic breakthrough in the Middle East diminished. These factors triggered the largest sell-off in Treasury bonds since March 2025, driving up borrowing costs and negatively impacting economic growth prospects and corporate profits. Meanwhile, European stocks recorded weekly losses, and gold edged slightly higher against the dollar. Investors are closely monitoring upcoming U.S. economic data for signs of sustained economic strength and the potential for further tightening of monetary policy.
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