Houthi attack lifts Brent 5.6% and 30-year yield to 5.34%
Global markets had a rough start to the week, mostly because oil prices shot up after Houthi rebels attacked a key Saudi pipeline and seized control of Yemen's port city of Mocha.
Brent crude surged 5.6% overnight to near $108 a barrel, which pushed US Treasury yields higher, with the 30-year yield climbing to 5.34%, its highest since June 2007.
Apple jumps 3.6% after foldable launch
US stocks like Nasdaq, S&P 500, and Dow Jones slipped about 0.5%, while Asian markets also traded lower as investors got nervous about rising rates.
Indian stocks managed to recover some early losses thanks to local buying and ended higher for the day; meanwhile, the rupee weakened against the US dollar.
Chipmakers like Intel and Micron dropped by up to 6% because of interest rate worries, but Apple bucked the trend with a 3.6% rise after launching its first foldable phone, showing just how unpredictable things are right now in global markets.