Brent crude prices surged 4.25%, breaking through $105.57 per barrel, pushing the 10-year US Treasury yield to 4.922%, up 0.082%, amid growing inflation concerns. The worries are pressuring central banks to raise policy interest rates and dragged all three major US stock markets down 0.4%, with the Dow Jones Industrial Average tumbling 233 points as of around 10:22 p.m. Most recently, the European Central Bank, or ECB, decided to raise interest rates to 2.5%, after policymakers judged that inflation risks were accelerating and economic growth was slowing.
ECB raised its policy rate to 2.5% on accelerating inflation risks, lifting the ECB rate itself.
10-year US Treasury yield rose to 4.922% as inflation worries push central banks toward higher rates.
