The broad market also declined, driven mainly by pressure on growth and tech exposure. Renewed inflation fears from higher oil and rate-level concerns appear to be hitting expectations-heavy assets first.

Rate-sensitive growth/AI exposure drove the weakness in the index. With cautious Fed expectations and valuation fatigue resurfacing, the move resembles a digestion phase after prior optimism.

Even with its relatively steadier profile, the complex of rates and energy weighed on performance. As the market cooled, flows appeared more cautious toward higher-duration risk.

Long Treasuries edged higher, but renewed inflation anxiety limited further upside. With real and nominal yields moving in mixed ways, it looks like a defensive yet somewhat unstable regime.

Gold slipped despite geopolitical tension, reflecting that the usual safe-haven bid was not enough to offset other forces. Rising rate pressure reduced its relative appeal versus cash and bonds.

Silver underperformed more than gold, signaling a stronger shift toward risk caution. As a higher-volatility asset, it appears especially sensitive to the adverse rate and dollar backdrop.

Oil pushed back above the key 100 level, boosting momentum for energy exposure. Geopolitical supply-risk concerns are resurfacing and markets are also pricing a renewed inflation path.

Crude-driven inflation worries and firmer rates encouraged short-term profit-taking. Still, the pullback looks more like a pause after strong momentum than a clear trend break, implying volatility may remain elevated.

Like Bitcoin, macro uncertainty and oil-linked inflation worries muted risk appetite. The relatively restrained drawdown suggests momentum is cooling rather than pointing to broad-based breakdown.

Emerging markets faced headwinds from the dollar/rate environment and oil-driven inflation pressure. Longer-term momentum looks intact, pointing more to risk repricing than a structural break.

European equities weakened as energy cost pressures and the rate backdrop weighed on sentiment. Discount-rate effects and economic sensitivity appear to have turned less favorable.

Energy cost concerns and shifting rate conditions fed selective weakness into Japanese equities as well. Even with currency effects in play, the renewed inflation narrative is acting as a sentiment headwind.

The 10-year Treasury yield rose amid renewed inflation concerns, weighing on risk assets. Ahead of the Fed meeting, markets appear to be dialing back early rate-cut expectations.

Real yields showed a short-term uptick, though the broader trend remains relatively contained. Oil-driven inflation anxiety can raise rate-level pressure and amplify volatility for long-duration assets.

The dollar showed mild adjustment rather than a strong trend move, but rate expectations still underpin the medium-term backdrop. This tends to cap risk assets’ upside while keeping market nerves active alongside oil-driven inflation concerns.

The yield curve spread improved sharply, suggesting reduced pessimism about near-term recession risks. With inflation anxiety still present, this looks more like ongoing rate-regime repricing than full confidence.