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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.