On Wall Street, the Dow eked out another record, but both the S&P 500 and Nasdaq retreated, with analysts pointing to worries over higher Treasury bond yields.Oil prices rose, however, were holding near 13-month highs.
Meanwhile, Bitcoin hit another record, pushing above $52,000 after breaking through $50,000 for the first time on Tuesday.Investors remain focused on Washington, where US President Joe Biden’s $1.9-trillion stimulus package is working its way through Congress. The prospect of the spending plan has been a key driver of a months-long surge in global equities.
“The move up in yields has been driven by increasing inflationary concerns amid a rise in energy prices along with the prospect of a big US fiscal stimulus and the global recovery entering a more solid stage,” said National Australia Bank’s Rodrigo Catril. US government data showed retail sales jumped 5.3 percent in January, much more than expected, helped by the last stimulus package enacted in December.