Finance

Bond yields jumped sharply as persistent underlying inflation kept the possibility of upcoming monetary tightening on the table. The benchmark 10-year Treasury note yield rose to approach the 5% threshold after hawkish comments from Federal Reserve officials. Traders moved swiftly to price in higher odds for aggressive central bank actions in the final month of the year.

Shares of chipmaking giant Nvidia slid 4% for a second consecutive session following a board announcement regarding an investigation involving its chief executive officer. Despite the continuous retreat in Nvidia equity, sector rivals like Broadcom and Advanced Micro Devices posted strong performances as investors reallocated capital within the semiconductor space. The decline pushes Nvidia roughly 22% below its peak reached last month.

Digital assets experienced notable selling pressure alongside traditional markets due to the unexpected inflation numbers. Bitcoin fell beneath the $74,000 threshold, representing a decline of nearly 2%, while alternative tokens like Ethereum and Solana faced steeper drops exceeding 3%. The broader crypto market cap retracted to roughly $2.52 trillion amidst the macroeconomic adjustments.