European stocks closed on a weak note on Tuesday as Treasury yields surged higher amid expectations the Federal Reserve will start hiking interest rate as soon as March.
Worries about inflation and concerns over potential supply disruptions due to the attacks on fuel tankers in the UAE by Yemen's Iran-aligned Houthi rebel group hurt as well.
The yield on U.S. 10-year Treasury Note surged above 1.8% to a two-year high on Tuesday amid expectations the Federal Reserve might hike interest rate by 50 basis points by March.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.