Global Markets Plunge Amid Rising Yields and Middle East Tensions
Global markets slumped on Tuesday as rising US Treasury yields and escalating tensions in the Middle East drove oil prices to multi-month highs.
The benchmark Brent crude oil price surged 1.7% to $107.4 a barrel, while the US 10-year Treasury yield climbed to its highest level since July 2007 at 5.03%, amid concerns of persistent inflation risks.