Emerging-market bonds and global stocks both declined due to concerns about slower interest-rate cuts in the US.

The Bloomberg index tracking emerging-market dollar sovereign bonds fell for the third consecutive day, reflecting the overall market trend.

US Treasury yields rose, with the 10-year yield surpassing 4.20% for the first time since July, which led to a decrease in risk appetite among investors.

The MSCI index for emerging-market stocks also dropped by 0.6%, indicating a challenging environment for developing-world assets due to changing expectations regarding monetary policy.