Day four of the Middle East conflict brings renewed volatility to global markets during Tuesday’s pre-market, with a clear shift towards risk-off positioning.
Bitcoin is down 3% over the past 24 hours, falling below $67,000 after briefly touching $70,000 on Monday. In equities, the Invesco QQQ ( QQQ ) ETF closed slightly higher to start the week, but is now down about 2% in premarket trading.
Metals are also under pressure. Gold and silver are both lower, with gold holding above $5,300 an ounce and silver sliding another 4% to around $85 an ounce.
In the energy markets, WTI crude oil is above $74 per barrel. barrel up 5% over the past 24 hours, approaching Sunday futures highs just above $75. Meanwhile, the US dollar is strengthening strongly, with the DXY index climbing above 99, a level not seen since January 20.
Treasury yields rise higher across the curve. The US 10-year yield remains firmly above 4% and is pushing towards 4.1%, reflecting continued yield pressure.
Crypto-related stocks track bitcoin lower. Strategy (MSTR), the largest publicly traded holder of bitcoin, is down 2%. Coinbase (COIN) is down 5%, Galaxy Digital is down 3%, and AI-focused miners IREN (IREN) and Cipher Digital (CIFR) are also down around 4%.
