The Treasury Department says it will ramp up bond repurchases. U.S. government bond yields are sliding after the Treasury Department said it would ramp up bond repurchases. The move comes after the 30-year U.S. Treasury yield hit its highest level in 19 years earlier this week, amid investor anxieties over fiscal deficits, heavy AI borrowing and inflation that pushed up borrowing costs around the world.

U.S. stocks traded higher after the news. A chip stock selloff dragged Asian indexes lower overnight. Chinese humanoid robot maker Unitree was a bright spot, surging more than fivefold in its trading debut.

This afternoon, we are also seeing minutes from the Fed's July meeting, which exposed a deepening divide among rate-setters about how to tackle inflation. According to the minutes, many officials said rate hikes could be needed if inflation doesn't decline.

Dimming hopes for a deal to end the U.S. war with Iran have also unsettled markets this week, sending global oil prices back above $92 a barrel.