India, May 12 -- The uncertain geopolitical situation in the Middle East, the spike in crude oil prices, inflationary pressures and hawkish monetary policy continued to dominate global market sentiment.
Wall Street Futures are trading below the flatline as hopes of a peace deal between the U.S. and Iran faded. Benchmarks in Europe are trading on a negative note. Earlier in the day, Asian markets had finished trading on a mostly negative note.
Boosted by safe haven bids, the 6-currency Dollar Index which measures the U.S. Dollar's strength against a basket of 6 currencies has rallied more than a quarter percent. Sovereign bond yields extended gains as the crude oil price surge triggered fears of a fuel-led inflationary spiral and hawkish m...