Market Overview

$S&P 500 Index (.SPX.US)$ and $Nasdaq Composite Index (.IXIC.US)$ hit new record highs, while $Dow Jones Industrial Average (.DJI.US)$ and small-cap indexes fell for the second consecutive session. $Apple (AAPL.US)$ rose over 1% to another all-time high, $Tesla (TSLA.US)$ slid by more than 1%, and Chinese ADRs outperformed with a 1%+ gain, marking their fourth straight day of growth. In France, lawmakers may vote as early as Wednesday on whether to dissolve the government. French stocks extended gains despite intraday declines.

South Korea's martial law scare had a fleeting impact. $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ The 10-year U.S. Treasury yield rebounded after hitting a one-month low, and the Korean won pared its intraday 2.9% drop against the dollar to close with a smaller loss. The iShares MSCI South Korea ETF fell over 7% intraday but recovered to close down less than 2%. Risk aversion spiked, with gold touching a new daily high. Meanwhile, South Korea's crypto exchange saw a flash crash, with Bitcoin plunging below $30,000 and losing over 30%.

Commodities rallied on Tuesday. U.S. crude oil surged more than 3% intraday to reclaim $70 per barrel, hitting a one-week high. Copper rose over 1%, reaching a three-week high.

In Asia, Chinese A-shares and the yuan rebounded in the afternoon. The Shanghai Composite Index closed up 0.44%, led by gains in lab-grown diamonds and debt restructuring stocks. Offshore yuan briefly fell below 7.31 to a one-year low before recovering past the 7.30 level.