India, Sept. 1 -- The unabated surge in crude oil prices triggered by the resumption of fighting between the U.S. and Iran continued to impact sentiment in global markets. Sovereign bond yields hardened further as fears of inflationary pressures goading central banks to raise interest rates weighed on markets.
Wall Street Futures are trading around half a percent lower. Major benchmarks in Europe are trading deep in the red. Earlier in the day, Asian markets had finished trading on a mostly negative note.
The six-currency Dollar Index rallied as markets priced in the increase in rate hike expectations from the Federal Reserve.
Ten-year sovereign bond yields hardened across regions amidst fears of fuel-led inflation as well as a jump in r...