- As investors worried about rising Treasury yields and mounting Middle East tensions, a selloff in Asian shares grew more severe.
- For the fourth straight day, 10-year US government bond yields increased, gaining five basis points in Asia and pushing the currency higher. According to John Williams, president of the Federal Reserve Bank of New York, interest rates must remain low "for some time" in order to bring inflation back to the target set by the government.
- Stock benchmarks across Asia fell by well over 1%, including those in Sydney, Hong Kong, mainland China, and Tokyo. when rising earlier, oil fell when the US lifted some sanctions on Venezuelan exports. Following increases of about 7% since the Hamas attack on Israel on October 7, gold prices were stable due to safe-haven buying.
- Oil prices rose on Wednesday as Iran escalated its criticism of Israel following an explosion at a hospital in Gaza that hindered diplomatic efforts to defuse the Middle East crisis. Following a warning that the Israel-Hamas conflict and rising aircraft fuel prices would hurt profits, United Airlines' stock fell by roughly 10%. Thursday's visit by UK Prime Minister Rishi Sunak to Israel is scheduled.
