Business & Markets
Bitcoin jumps 6% as stocks bounce on Treasury action
Bitcoin climbed more than 6% to about $77,188 and global stocks recovered some recent losses on Friday as investors assessed the US Treasury's efforts to lower long-term borrowing costs.
The world's biggest cryptocurrency by market value was up more than 20% for the week and reached its highest level since May. The rally was also supported by US President Donald Trump's call for lawmakers to pass legislation aimed at encouraging cryptocurrency use.
The three main US stock indexes all closed higher after mostly falling during the week. The Dow Jones Industrial Average rose 1.0% to 53,277.01 points, the S&P 500 gained 0.4% to 7,674.37 and the Nasdaq Composite added 0.4% to 26,180.46.
London, Paris and Frankfurt also closed higher. For Paris, it was the first gain after nine consecutive declines. Earlier in Asia, Hong Kong rose, Shanghai was flat and Tokyo fell. Seoul was helped by chipmakers, with Samsung rising 3.9% after saying it spent $80 billion to buy back its own shares.
The US Treasury bought some of its own bonds this week after the 30-year Treasury yield rose to levels last seen in 2007. The move briefly eased yields, but they later resumed rising. The 10-year US Treasury yield was at 4.74% on Friday.
European government bond yields are also at their highest levels in more than a decade. Yields have risen on inflation concerns and after the United States reported this week that federal debt had climbed above $40 trillion.
Susannah Streeter, chief investment strategist at Wealth Club, said investors remained concerned about inflation risks, rising government borrowing and debt issued by technology companies building artificial intelligence infrastructure.
Brent crude rose 0.7% to $94.39 a barrel, while West Texas Intermediate was down 0.3% at $87.06, as the United States and Iran remained deadlocked over a deal to reopen the Strait of Hormuz. Investors are also watching next week's Jackson Hole meeting of central bankers, economists and finance officials for signals on monetary policy.
Update
The Dow, S&P 500 and Nasdaq all closed higher on Friday after being earlier reported only in intraday trading.
Bitcoin was reported at about $77,188, up more than 6% on the day and more than 20% for the week.
The 10-year US Treasury yield was reported at 4.74% on Friday.
Brent crude was up 0.7% at $94.39 a barrel, while WTI was down 0.3% at $87.06.
Source note: AFP news report published on 21 August 2026 at 20:43:38 UTC.
Update
US stock index levels were updated at around 1540 GMT, with the Dow up 0.8%, the S&P 500 up 0.5% and the Nasdaq up 0.4%.
London, Paris and Frankfurt closed higher, and Paris recorded its first gain after nine consecutive declines.
The source says US federal debt has climbed above $40 trillion.
David Morrison of Trade Nation said European stock indices still looked set for their worst weekly performance in nearly two months.
Thahbib Rahman of Block Scholes said the Treasury buybacks had not yet had a lasting effect on longer-dated US Treasury yields.
Oil prices were updated, with WTI down 0.1% at $86.75 and Brent up 0.3% at $94.03.
Source note: AFP news report published on 21 August 2026 at 15:46:47 UTC.
Update
Bitcoin climbed almost six percent to above $77,000 and was up more than 20 percent for the week.
Gold rose and oil prices held the week's gains as the United States and Iran remained deadlocked over a deal to reopen the Strait of Hormuz.
European markets were higher, though an analyst said European indices were set for their worst weekly performance in nearly two months.
The US Treasury's bond buybacks were described by Deutsche Bank's Jim Reid as a “band-aid” rather than a structural solution to rising yields.
Samsung rose 3.9 percent in Seoul after saying it would spend $80 billion buying back its own shares.
Source note: AFP news report published on 21 August 2026 at 13:53:13 UTC.
Update
Wall Street's main indexes opened higher on Friday after several days of weak sentiment linked to rising US bond yields.
About 10 minutes into trading, the Dow Jones Industrial Average was up 0.6 percent at 53,073.47 points.
The S&P 500 rose 0.4 percent to 7,670.85 points and the Nasdaq Composite was up 0.2 percent at 26,129.68.
The 10-year US Treasury bond yield was back near earlier levels by Friday, with the 30-year bond not far behind.
Adam Sarhan of 50 Park Investments described the open as a normal bounce and said investors would watch Nvidia earnings and the Jackson Hole meeting next week.
Source note: AFP news report published on 21 August 2026 at 13:49:27 UTC.
Update
Global stock markets were trading cautiously at around 1100 GMT as the initial lift from the US Treasury bond buyback move faded.
Bitcoin has risen more than 20 percent since Wednesday.
The dollar fell against the yen, euro and pound, while US equity futures were higher before the Wall Street open.
Oil prices were up, with West Texas Intermediate at $87.13 and Brent at $93.97 a barrel.
Source note: AFP news report published on 21 August 2026 at 11:26:03 UTC.
Update
Hong Kong's Hang Seng Index closed up 1.2 percent at 26,009.46 at around 0810 GMT.
London's FTSE 100 was up 0.3 percent at 10,779.40 at around 0810 GMT.
London, Paris and Frankfurt were all higher in the later update.
West Texas Intermediate was down 0.8 percent at $86.17 a barrel and Brent was down 0.6 percent at $93.25 a barrel at around 0810 GMT.
Source note: AFP news report published on 21 August 2026 at 08:21:31 UTC.
Update
Shanghai was flat, while Mumbai, Bangkok and Jakarta also rose; Tokyo and Sydney dipped.
Samsung rose 3.9 percent after reports of a shareholder return worth as much as $79 billion.
Key market, currency and oil figures were updated to around 0715 GMT.
Source note: AFP news report published on 21 August 2026 at 07:39:36 UTC.
Update
Asian stocks edged higher on Friday while Wall Street remained under pressure from renewed selling.
Hong Kong, Singapore, Wellington and Taipei rose in early trade, while Tokyo, Sydney and Shanghai fell.
The yen rose against the dollar after Japanese inflation picked up last month on higher oil prices.
Treasury Secretary Scott Bessent said on CNBC that the Treasury had a “big toolkit” and could use measures including bond purchases beyond the scale already announced.
Source note: AFP news report published on 21 August 2026 at 02:34:42 UTC.
Update
US Treasury Secretary Scott Bessent said the Treasury had a “big toolkit” and could increase bond purchases beyond the scale announced Wednesday.
Walmart fell 9.2% after reporting its lowest US sales growth in six years.
FOREX.com analyst Fawad Razaqzada said a structural solution, especially fiscal consolidation, would be needed for a sustainable bond-market improvement.
Source note: AFP news report published on 20 August 2026 at 20:22:16 UTC.
Update
Major US stock indexes were lower around 1915 GMT, with the Dow down 1.2%, the S&P 500 down 0.7% and the Nasdaq down 1.0%.
The 30-year US Treasury yield rose to 5.24%, up from 5.19% on Wednesday but below Tuesday's 5.33% peak.
US Treasury Secretary Scott Bessent told CNBC the Treasury had a “big toolkit” to address yields it viewed as disconnected from financial conditions.
Brent and West Texas Intermediate crude were both up 2.4% at the latest supplied market snapshot.
Source note: AFP news report published on 20 August 2026 at 19:30:52 UTC.
Update
Wall Street indexes were lower across the board around 1545 GMT, with the Dow down 0.8%, the S&P 500 down 0.4% and the Nasdaq down 0.9%.
Most European markets closed lower, while London's FTSE 100 closed flat.
Brent crude was up 2.5% at $93.88 a barrel and West Texas Intermediate was up 2.8% at $86.76 a barrel around 1545 GMT.
US Treasury Secretary Scott Bessent said sanctions would “collapse this regime” and urged allies and China to support Washington's campaign.
FOREX.com analyst Fawad Razaqzada said a more structural solution, especially fiscal consolidation, would be needed for a sustainable improvement in the bond market.
Source note: AFP news report published on 20 August 2026 at 16:10:38 UTC.
Update
US Treasury said it would at least double sovereign bond buybacks after the 30-year yield rose near two-decade highs.
Major European markets were lower or flat in midday trading, while Wall Street opened lower across the board.
Brent crude was up 2.2% at $93.78 and WTI was up 2.3% at $86.67 around 1345 GMT.
Asian stocks rose, with Seoul up nearly 6% after SK Hynix announced a $29 billion share buyback.
Federal Reserve July meeting minutes showed many policymakers said higher rates would be needed if inflation did not decline.
Source note: AFP news report published on 20 August 2026 at 14:12:45 UTC.
Uncertainty notes
The source links the market moves to several factors, including Treasury action, crypto policy hopes, inflation concerns and oil prices; it does not isolate one single cause.
Source
AFP news report published on .