Global bond markets resumed a strong sell-off, amid concerns over inflation and rising government debt.
These pressures pushed long-term US borrowing costs to their highest levels since 2002.
The yield on 30-year US Treasury bonds rose by about 0.09 percentage points, reaching 5.73%.
As a result, households and businesses face additional pressure, amid the ongoing fallout from rising prices and the war with Iran.
In Europe, French and Italian bond yields climbed by about 0.15 percentage points.
French 10-year borrowing costs reached 4.91%, while the UK yield for the same maturity rose to 5.48%. Bond prices fall as yields rise.
Investors are linking these movements to rising oil prices and sovereign debt burdens, as well as uncertainty over when the war will end.
Strong US economic data also added to the pressure on bond yields.
The sell-off extended to equities, with the Stoxx Europe 600 index falling by about 0.9%.
Futures for the S&P 500 and Nasdaq 100 indices dropped by 0.5% and 0.8%, respectively.
In contrast, Brent crude rose by 1.2% to $101.72 a barrel.
The average rate on the US 30-year fixed mortgage climbed to 7.49%, the highest in about three years.
Despite the volatility, some investors believe bond markets could offer more attractive opportunities if prices continue to decline.
But others see falling oil prices as a key factor in calming yields and restoring investor confidence in the coming period.
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