- Treasuries in the US extended their selloff, owing to concerns about high inflation and the potential of greater monetary-policy tightening. Asian markets surged in response to a rise in Chinese technology companies.

- Shares in Japan and Hong Kong rose, while those in China varied. The perception that the worst of Beijing's regulatory crackdown has passed helped sentiment. Alibaba Group Holding claimed record sales during its Singles' Day Shopping Festival, while Didi Global is reportedly planning to restart its apps once investigations are concluded. After the S&P 500 eked out a gain, US equities futures moved higher.

- When trade resumed after a holiday, five-year notes led to the fall in treasuries. The margin between 5-yr and 30-yr yields narrowed, reaching its tightest point since March of last year at one point. Bond prices plummeted on Wednesday after data revealed the sharpest rate of inflation in the US in three decades.

- The dollar rallied in the aftermath of the inflation report and caution induced by a US warning that Russia may be considering an invasion of Ukraine. Oil and gold fell, while Bitcoin remained stable.