Asian Stocks Bleed as Rising US Yields and Crude Prices Weigh on Risk Assets

Asian stock markets declined, while Indian equity markets experienced a sharp sell-off on Monday, with the BSE Sensex plunging 990 points, or 1.34%, to trade at 72,905. The broader retreat also saw Nikkei 225 drop 0.73% and China’s Shenzhen index plummet 3.44%. US Futures Drop Following Asian Market Fall The bearish sentiment is poised to spill over into the U.S., with futures for the Dow Jones falling 188 points and the Nasdaq 100 dropping over 262 points. The 10-year U.S. Treasury yield reached 5.17% last Friday, marking its highest level since 2007, according to Ed Yardeni and Toby Hearst of Yardeni Research. Yardeni and Hearst also noted that Advanced Micro Devices Inc. ‘s (NASDAQ: AMD ) market value recently surpassed $1 trillion following early successes for Meta Platforms Inc. ‘s (NASDAQ: META ) Muse AI agent. Read Also: Stock Market: Will S&P 500 Open Up or Down Today? Crypto and Crude Pull Back Among cryptocurrencies, Bitcoin (CRYPTO: BTC) pulled back to the $83,400—$83,500 range after briefly exceeding $85,000, according to Simon-Peter Massabni, Head of Business Development at XS.com. Massabni stated that elevated U.S. Treasury yields and a steady decline in daily inflows