Global stocks fell as bond yields in Europe hit multiyear highs, with the dollar gaining and gold reaching a record high. U.S. manufacturing continued to contract due to tariffs, while AI spending supported some sectors. U.S. stocks traded lower, with bond markets nervous about upcoming government budget discussions. France, Germany, and the UK saw 30-year bond yields rise to multiyear highs. Bond yields globally, especially on 30-year bonds, have been soaring, causing concern about debt levels.

In the U.S., the 30-year yield rose to 4.96%, and the 10-year Treasury yield increased to 4.27%. French and British government spending plans faced challenges, impacting bond markets. Sterling and other currencies tumbled, with the dollar showing safe-haven properties. Stocks suffered, and Europe’s benchmark index was down 1.5%. Economic data releases will shape Fed rate cut expectations, with precious metals like gold hitting record highs.

Oil prices rose due to U.S. sanctions on Iran’s oil revenue, with expectations that OPEC+ will maintain voluntary cuts. Gold reached $3,536 an ounce, and silver hit a 14-year high. Bond markets, currency fluctuations, and stock market volatility continued as investors awaited key economic data and Fed rate decisions. The global financial landscape remains uncertain amid geopolitical and economic challenges.

Read more at Yahoo Finance: Fiscal jitters push US stocks down, European bond yields up to multiyear highs