Global Markets Mixed as Wall Street Dips and Oil Prices Stabilize

Global markets were mixed on Tuesday following losses on Wall Street and uncertainties surrounding U.S.-Iran talks. The S&P 500, Dow Jones Industrial Average, and Nasdaq composite all fell by around 0.8%, 0.7%, and 0.9% respectively on Monday.

The rising U.S. Treasury yields have been a major concern for investors, with the yield on the 10-year U.S. Treasury reaching its highest level in roughly two decades at about 5.24%. Central banks have been raising interest rates to help curb inflation, with Australia's central bank lifting its benchmark rate on Tuesday for the fourth time this year.

Oil prices stabilized as mediators continued to work towards a deal between the U.S. and Iran to end the fighting and reopen the Strait of Hormuz. However, Brent crude remained well above its level of roughly $72 a barrel in late February before the war with Iran.