Global stock markets came under pressure as higher bond yields and elevated oil prices increased concerns about borrowing costs and inflation.
Rising government bond yields can make borrowing more expensive for businesses and consumers. At the same time, higher energy prices can add to inflationary pressures across economies.
Investors are watching economic data and central-bank policy expectations closely as they assess the outlook for interest rates and financial markets.
Market movements can change quickly as investors respond to economic data, energy prices and developments around the world.