Investors shrug off US sanctions plan for Iran, bitcoin powers on

Global financial markets experienced a brief respite on Tuesday as investors ignored plans by the US to impose tighter sanctions on Iran. The anticipation of Nvidia's earnings report on Wednesday dominated market sentiment, with analysts expecting significant revenue and earnings growth. The US Treasury Secretary had warned countries to sever financial ties with Iran or face secondary sanctions, but the Treasury Department did not actually impose penalties.

This announcement led to a modest decline in oil prices and government bond yields, as investors found comfort in the less severe sanctions. The dollar remained relatively stable against other major currencies, despite a broader trend of higher yields and dollar weakness. Meanwhile, Bitcoin surged past the $80,000 mark, marking a 30% increase over 10 days.

Gold and German 10-year bond yields also showed slight declines, but remained near their highest levels in recent months.