Yen Surge and Climbing Bond Yields Drag Down Bitcoin, Gold and Tech Stocks

Risk sentiment turned negative on Tuesday as the yen strengthened sharply against the US dollar, moving past 154 to touch 152.99, its strongest level since February. The rally has revived fears of an unwinding in the yen carry trade, a shift that tends to squeeze liquidity across global risk assets.

Bitcoin and Gold Slide

Bitcoin fell more than 1% over the past day, trading just above $78,000, while gold dropped 1% to $4,390 an ounce. Technology shares also softened in early trading, with the Invesco QQQ down slightly.

Oil and Bond Yields Push Higher

Crude prices continued climbing, with Brent nearing $100 a barrel, its highest level since June, and WTI approaching $95 after a sharp gain. Meanwhile, government bond yields rose broadly, with the US 10-year Treasury yield holding firmly above 4.8% and yields in the UK, France and Germany also moving higher, adding further pressure on riskier assets.