The US dollar rose against a basket of major currencies on Tuesday, extending gains for the third straight day, following the US 10-year Treasury bond yield's jump to a 2-year high, which boosts the dollar's investment attractiveness, amid anticipation of Federal Reserve meeting next week.

The dollar index rose 0.4% to 95.57 points, after opening at 95.22 points, and hit a low of 95.12 points.

The US dollar gained 0.1% yesterday, the third straight daily gain, thanks to recovery from a 2-month low of 94.62 points.

US 10-year treasury yields rose 2.1%, the third such gain in a row, marking a 2-year high at 1.856% while analysts expect it to reach 2% soon.

These developments in the bonds market came due to growing chances that the Federal Reserve will raise interest rates next March, in the first of three expected rate hikes this year, with the possibility of a fourth hike if inflation continues to rise.

Markets are awaiting the Federal Reserve's first monetary policy meeting in 2022 next week, which is expected to provide more cues about this year's interest rate hikes.

Oil prices continued to rise as the US market opened on Tuesday, and hit nearly 8-year highs, resuming gains after taking a pause yesterday, while Brent continues to rise for the third day in a row, rising above Brent $88 for first time in 8 years after the deadly attack by the Houthis group on Abu Dhabi, and the UAE pledged to respond quickly.

US crude rose 1.75% to the highest since October 2014 at $85.72 a barrel, after opening at $84.25, and hit a day low at $84.13, and Brent rose 1.8% to the highest since October 2014 at $88.08 a barrel, after opening at $86.52, and hit a day low at $86.47.

US crude lost 0.2% yesterday, while Brent crude gained 0.3%, in the second straight daily gain.

The United Arab Emirates pledged to respond quickly to the Houthis attack in Abu Dhabi that killed three people on Monday.

The Yemen's Houthi rebels claimed responsibility for the attack that caused fires and the explosion of three oil tankers near the oil tanker storage facility of Abu Dhabi's state-owned energy company, ADNOC.

Emirati police stated that the fires broke out in the Mussafah Industrial Area and at a construction site near Abu Dhabi International Airport, adding that the attack was carried out by drones.

This sparked concerns about geopolitical tensions in the Persian Gulf region, which is the world's largest oil producing region, while the UAE output of around 4 million barrels per day.

European stocks fell on Tuesday, and hit a 4-week low due to investors' risk aversion and widescale sell-off, after the 10-year US Treasury bond yield jumped to new highs.

The Stoxx Europe 600 index fell 1.25% as of 11:25 GMT, and hit the lowest level since December 22 at 477.52 points, after it closed higher by 0.7% yesterday, following upbeat Chinese growth data.

The tech sector is today's biggest loser in Europe, with a drop of more than 2.5%, followed by the travel and entertainment sector, with a drop of 2.25%.

US 10-year treasury yields rose 2.1%, the third such gain in a row, marking a 2-year high at 1.856% while analysts expect it to reach 2% soon.

These developments in the bonds market came due to growing chances that the Federal Reserve will raise interest rates next March, in the first of three expected rate hikes this year, with the possibility of a fourth hike if inflation continues to rise.

S&P 500 futures fell 1.1% today ahead of Wall Street's opening, after a public holiday in the US yesterday.

Back to Europe, the Euro Stoxx 50 index fell 1.1%, France's CAC 40 fell 1.2%, Germany's DAX index fell 1.3%, and the UK's FTSE 100 fell 0.9%.

Silver prices lost nearly 1% on Tuesday, on track for the third daily loss in 4 days, alongside most dollar-denominated metals, as the US Treasury bond yields rose.

Silver prices fell 1.0% to $22.80 an ounce, after opening at $23.03, and hit a high at $23.10.

Silver prices rose 0.3% yesterday, posting the first gain in 3 days, in quite trading due to a public holiday in the US.

The dollar index rose by 0.2% today, extending gains for the third straight day against a basket of major currencies.

The greenback rose today following the US 10-year Treasury bond yield, which boost the dollar's investment attractiveness.

US 10-year treasury yields rose 2.1%, the third such gain in a row, marking a 2-year high at 1.856% while analysts expect it to reach 2% soon.

These developments in the bonds market came due to growing chances that the Federal Reserve will raise interest rates next March, in the first of three expected rate hikes this year, with the possibility of a fourth hike if inflation continues to rise.