Global Stocks Selloff Amid US Yield Surge and Geopolitical Tensions

Global stock markets experienced a selloff as investors reacted to concerns about higher interest rates, China's slowing economy, and escalating tensions in the Middle East. The selloff was driven by fears of prolonged high interest rates, potential inflation, and geopolitical risks. US economic data continues to show strength, frustrating hopes for imminent interest rate cuts. Traders are no longer fully pricing in a Fed rate cut before November, and there are warnings of a potential hiking cycle by US policymakers. The Bloomberg Dollar Spot Index climbed, and US equity futures ticked lower after the S&P 500 fell more than 1% in two straight sessions.