{"id":210791,"date":"2026-05-15T23:59:48","date_gmt":"2026-05-15T23:59:48","guid":{"rendered":"https:\/\/quixnet.net\/wpinstance\/few-deals-from-trumps-trip-and-no-progress-on-iran-send-global-markets-into-a-sell-off-nbc-news\/"},"modified":"2026-05-15T23:59:48","modified_gmt":"2026-05-15T23:59:48","slug":"few-deals-from-trumps-trip-and-no-progress-on-iran-send-global-markets-into-a-sell-off-nbc-news","status":"publish","type":"post","link":"https:\/\/quixnet.net\/wpinstance\/few-deals-from-trumps-trip-and-no-progress-on-iran-send-global-markets-into-a-sell-off-nbc-news\/","title":{"rendered":"Few deals from Trump\u2019s trip and no progress on Iran send global markets into a sell-off – NBC News"},"content":{"rendered":"

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Government bonds around the world sold off sharply Friday as the price of oil jumped, both driven by an array of geopolitical developments in the Iran war, politics and trade.
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The yield on a 30-year U.S. Treasury bond rose to 5.127%, its highest level since 2007. On Wednesday, the Treasury Dept. also sold 30-year bonds above 5% for the first time since 2007<\/a>.
The 10-year Treasury note\u2019s yield also surged to 4.595%, which its highest level since February 2025. For both bonds, this week saw yields jump the most since tariffs roiled global markets in early 2025.
U.S. crude oil jumped 4.2% Friday to $105.42 per barrel, bringing its gain this week to more than 10%. International Brent oil rose nearly 3.3% to $109.26 per barrel. Brent has gained 8% this week.
Stocks dropped throughout the day. The S&P 500 slid 1.2%, the Nasdaq Composite sold off by 1.5% and the Dow Jones Industrial Average tumbled 537 points or 1%.
The latest market turmoil also puts further pressure on consumers. Oil\u2019s rise threatens to drive retail gas prices higher, while spiking bond yields set the stage for higher consumer lending rates.
Already on Friday, the average 30-year fixed mortgage rate jumped to 6.65%, according to Mortgage News Daily data.
It could also prove to be incoming Fed chair Kevin Warsh\u2019s first big test. \u201cBond yields definitely feel like they are getting a bit unhinged,\u201d Soci\u00e9t\u00e9 G\u00e9n\u00e9rale head of U.S. research Subadra Rajappa said on Bloomberg TV<\/a>.
As of Friday morning, the average price of unleaded gas was holding steadily above $4.50 per gallon<\/a>, up 51% since the Iran war started.
The moves in bonds, oil and stocks gained momentum as President Donald Trump and his top officials discussed their historic summit with Chinese officials in Beijing.
So far, the trip does not appear to have resulted in many major business or trade deals, known as \u201cdeliverables\u201d in diplomatic-speak.
\u201cMarkets didn\u2019t hear enough from Beijing to turn more optimistic on the [Persian] Gulf,\u201d ING analysts wrote in a note to clients on Friday.
Earlier in the week, tech stocks had rallied after Nvidia CEO Jensen Huang joined Trump\u2019s trip to China on Tuesday evening at the last minute. Markets viewed Huang\u2019s participation as a sign that U.S. export controls on China might be partially lifted.
But those hopes were quickly dashed. \u201cWe did not talk about chip export controls at the meeting\u201d between Trump and China\u2019s President Xi Jinping, said U.S. Trade Representative Jamieson Greer on Bloomberg Television<\/a> Thursday.
Meanwhile, Trump himself said that tariffs \u2014 one of the central aspects of the U.S.-China relationship \u2014 did not come up in his meeting with Xi.
Several Trump administration officials said the delegations talked about creating a \u201cboard of trade\u201d with China, but provided few further details.
The status of a U.S. trade truce with China, which eased export controls, lowered tariffs and cooled tensions was also not clear. The truce, which exists in the absence of a more formal trade deal, expires in November. Asked about the possibility that the truce would be extended, Greer replied \u201cwe\u2019ll see about that\u201d in the Bloomberg interview.
Greer also said he expected the Chinese to announce \u201cdouble digit billions of dollars\u201d of U.S. agricultural purchases, however no such announcement had been made by the time Trump departed Beijing.
U.S. officials have also given conflicting answers for days as to whether China will take a more active role in re-opening the critical Strait of Hormuz.
On Friday morning, Trump said he did not ask Xi to use China\u2019s considerable leverage over Iran to encourage the country to open the strait to vessel traffic.
\u201cI\u2019m not asking for any favors, because when you ask for favors, you have to do favors in return,\u201d the president told reporters aboard Air Force One. \u201cWe don\u2019t need favors.\u201d
But ever since the war with Iran was launched on Feb. 28, transits through the crucial waterway have effectively ground to a halt. Before the war, vessels used the strait to carry more than 20% of the world\u2019s energy supply to the global market every day.
Trump also reiterated Friday that Iran\u2019s most recent offer to end the war was \u201cnot enough.\u201d
The closure of the Strait of Hormuz has caused oil prices to surge more than 80% this year and sparked inflation across the U.S. economy. The Consumer Price Index for April hit 3.8%<\/a>, its highest level in three years. An index measuring wholesale prices<\/a> hit 6% last month.
Investors \u201care growing more nervous about upside inflation risks in the U.S.,\u201d according to a Bank of America survey of 60 global fund managers released Friday. Some of those expected the Fed to hike interest rates to control inflation.
Throughout his trip, Trump also floated a potential agreement in the private sector, a deal for China to buy hundreds of Boeing planes.
But was unclear Friday whether a deal had been reached between Boeing and a Chinese airline that would make the actual purchase of the planes.
\u201cI think it was a commitment,\u201d Trump said on Fox News Channel. \u201cI mean, you know, sort of like a statement, but I think it was a commitment.\u201d
Receiving an order for planes from an airline in China would be a boon for Boeing, which has not seen any major orders from the country in years.
That said, Boeing\u2019s current order backlog stretches to thousands of planes. so any delivery of aircraft in a Chinese deal could take between five and 10 years.
Markets in Europe also sold off in Friday trading. The Stoxx 600 ended lower by 1.5%, while Germany\u2019s benchmark index sank 2% and indexes in France, Italy and the U.K. fell around 1.7%
A selloff in bonds around the world also contributed to the broader market woes. In the U.K., the yield on a 10-year government bond (called a gilt) surged to its highest level since 2008 amid political turmoil that could cost Prime Minister Keir Starmer his job. <\/a>The 30-year gilt yield hit its highest since 1998, driven in part by investor fears that a new, more liberal prime minister could further hike government spending and loosen the country\u2019s fiscal policy.
\u201cThe combination of a renewed gradual march higher in oil prices on stalled U.S.-Iran negotiations and strong U.S. investment data is putting upward pressure on bond yields, in the U.S. and globally \u2013 creating a new headwind for equities,\u201d said Krishna Guha, vice chairman of Evercore ISI.
In Japan, which is heavily exposed to the Middle East energy shock, the yield on a 10-year government bond surged to its highest level since 1999. In Germany, bund yields haven\u2019t been this high since 2011.
Anxiety over inflation is gripping European and Asian economies as energy prices continue to climb. European natural gas futures were higher by more than 6% on Friday, adding to its more than 90% jump so far this year.
Steve Kopack is a senior reporter at NBC News covering business and the economy.
© 2026 NBCUniversal Media, LLC<\/p>\n

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