- With results in focus, most US stocks climbed, while Treasuries rallied as a growing chorus of money managers claimed inflation is nearing a peak and rate-hike bets are overdone.

- The S&P 500 ended little changed with 9 of 11 industry groups advancing after a roller-coaster session.

- Meanwhile, the tech-heavy Nasdaq 100 plummeted, with Netflix dropping more than 30% after reporting its first subscriber fall in almost a decade. Other streaming and media firms, such as Walt Disney, Warner Bros.,  Discovery and Paramount Global, were also affected.

- For the first time since March 2020, US 10-Year real yields have turned positive, indicating a possible return to pre-pandemic levels. However, this was swiftly followed by a global reduction in bond yields as investors assessed the growth hurdles posed by the Ukraine conflict as well as the possibility of an inflation peak.

- On Wednesday, short-term interest-rate speculators raised the market-implied odds of the Federal Reserve raising rates in half-point increments in both May and June to 100%.

- The yen rose as much as 1% against the dollar, but it remained the worst performer among the group of ten currencies this year due to a policy contrast with the US: the Bank of Japan offered to buy an unlimited amount of bonds to contain yields, highlighting its desire for loose monetary policy settings.