Finance

Energy and financial markets reacted sharply to news that Iran reportedly shot down a U.S. Apache helicopter near the Strait of Hormuz. President Trump's vow to respond to the incident triggered a brief spike in Treasury yields and caused oil prices to pare earlier losses amid fears of a wider conflict.

Bond markets remained cautious as the 10-year Treasury yield hovered around 4.53% to 4.55% leading up to the release of May Consumer Price Index figures. Market participants are increasingly pricing in the possibility of a rate hike later in 2026, a sharp reversal from early-year expectations of multiple cuts.

Digital assets continued their downward trend as Bitcoin fell to a new yearly low of approximately $59,070, dragging the broader crypto complex with it. The sector has faced nearly $1.8 billion in leveraged position liquidations in early June as institutional sentiment shifts toward traditional growth stocks and upcoming major IPOs.