Nasdaq Lead Gains at Open; Bitcoin Holds Below $90,000 — WSJ
By Alexander OsipovichStock indexes rose, led by the Nasdaq composite, a day after a worldwide selloff in risky assets.Bitcoin recovered some ground but held below $90,000. The crypto sector has skidded as investors dial back risk. Shares of companies that focus on acquiring digital tokens, such as Michael Saylor's Strategy, have struggled, but rallied early Tuesday.Japanese government bonds remained in focus after hawkish comments from the country's central bank chief on Monday. The 30-year yield set a record intraday high, but benchmark borrowing costs ended the day lower, following a well-received debt auction.Yield gains could dampen Japanese demand for U.S. Treasurys and disrupt the carry trade, in which investors borrow cheaply in yen to make leveraged bets. Bellwether 10-year notes topped 4.1% Tuesday.Elsewhere, stocks rallied in Seoul after the U.S. confirmed levies on South Korean vehicles will drop to 15% from 25%. That will be retroactive to early November. Automakers Kia and Hyundai both rose more than 4%.The U.S. and global economies are set to slow next year as higher tariffs take effect, the Organization for Economic Cooperation and Development said Tuesday.Write to Alexander Osipovich at [email protected] item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).