| US equities declined on Wednesday as inflation anxieties propelled bond yields and crude oil prices experienced a fresh upswing. A Treasury selloff, triggered by a disappointing five-year note auction, caused the 10-year bond yields to advance significantly above the 5% threshold. Investors exhibited restraint in anticipation of a summit between President Donald Trump and his Chinese counterpart Xi Jinping in Washington. Regarding economic data, S&P Global reported that its flash US Composite PMI Output Index, monitoring the manufacturing and services sectors, rose to 58.4 this month, marking the highest level since July 2021. This development fostered expectations of additional interest rate increases, contributing to a downturn in equity prices. The Dow Jones declined 0.68% and the S&P 500 decreased 0.75%. The Nasdaq Composite retreated 1.13% following a record high achieved on Tuesday. |