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Eurozone inflation rose for a third straight month in August, reinforcing expectations that the European Central Bank will raise its key interest rate next week.
Global bond yields surged Tuesday as renewed tension between the U.S. and Iran reinforced inflation expectations, which increased the prospect of interest-rate hikes in the coming months.
Renewed fighting revived concerns the conflict could become more prolonged and further disrupt oil flows through the Persian Gulf, just as supply risks are being compounded elsewhere.
Semiconductors, which account for more than a third of South Korea’s exports by value this year, continued to drive the gains.
The U.S. mission to speed traffic through the strait hangs on an unbalanced fight against underwater risks.