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US 10 year yield hits 5.12%| Oil prices climb | Nifty set for gap down opening


Wall Street sold off, with the Dow and S&P 500 falling 0.7% each, while the Nasdaq declined 1.1% as surging yields pressured US equities. The US 10-year Treasury yield jumped 13 basis points to 5.13% after strong PMI data, with September Services PMI rising to 58.7, its highest level in nearly five years, while Manufacturing PMI climbed to 56.7, the highest in more than four years. A US Treasury auction for five-year notes also met with poor demand. Crude prices climbed 4% overnight after remarks by Iranian President Masoud Pezeshkian at the UN General Assembly, where he said Iran “cannot be made to surrender.” The US and China have extended their tariff truce until January 10, with the Trump-Xi summit scheduled for today. Asian markets are mixed, while Japan reopens with gains after a three-day holiday; South Korea remains closed and Gift Nifty indicates a weak start for India. The Indian market ended at a two-week high on Wednesday, with the Nifty back near 23,450. FIIs were net buyers of ₹1,617.45 crore in equities, while DIIs were net buyers of ₹2,341.46 crore.