The US Treasury's move to control the $32tn bond market is causing volatility, while sanctions and crises hit Iran and Venezuela.
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US Treasury officials have made a high-stakes bet to curb soaring borrowing costs in the $32tn Treasury market, a move that is prompting caution from Federal Reserve officials per Reuters. The intervention comes as Wall Street sinks, with bond yields rising and disappointing results from Walmart contributing to the downturn.
The Treasury's actions are part of a broader pattern of US economic pressure abroad. In Iran, analysts are assessing the potential damage from what has been termed Trump's 'economic D-Day', though the nation has so far proven adept at circumventing years of punishing sanctions according to the BBC.
Venezuela is facing a compounded crisis, with an electricity blackout plunging the country into darkness. This follows the US takeover of its oil industry and devastating earthquakes, CBC reports. The situation highlights the far-reaching consequences of US economic policies on other nations.
In Nigeria, local authorities are warning against the use of adulterated oil and chemical colorants in the production of Okpa, a traditional delicacy. A dietician cited by Premium Times noted that the dish, made from Bambara nut, is a natural source of protein, fat, carbohydrates, and essential minerals like iron and zinc.
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