Heightened geopolitical risks in the Middle East and stalled US-Iran negotiations have triggered a broad risk-off sentiment, pushing oil prices higher due to constrained supply through the Strait of Hormuz. The US dollar is gaining across the board, with Treasury yields climbing, reflecting investor demand for safer assets amid uncertainty. Equity futures in both the US and Europe are retreating ahead of trading, signaling caution. Notably, gold and silver prices are declining despite the risk-off mood, pressured by a firmer dollar and rising yields, which raise the opportunity cost of holding non-yielding precious metals. Traders should monitor developments in the Middle East and US-China diplomacy for further market impact.