On September 8, the first trading day following the U.S. Labor Day holiday, a clear shift toward risk aversion emerged across global markets.

The Japanese yen extended its rally against the U.S. dollar, breaking through the 154 level before firming further to 152.99, marking its strongest point since February. This move has reignited concerns over the unwinding of yen carry trades, putting broad downward pressure on risk assets worldwide. Bitcoin fell more than 1% over the past 24 hours, hovering just above $78,000, while gold slipped 1% to $4,390 per ounce. U.S. tech stocks edged lower in pre-market trading, with the Invesco QQQ declining 0.16%.

In commodities, geopolitical factors continued to drive oil prices higher. Brent crude approached $100 per barrel, gaining 2% in 24 hours to reach its highest level since June, while WTI crude rose 3.5%, nearing $95 per barrel.

Turning to fixed income, sovereign bond yields moved higher across the board. The U.S. 10-year Treasury yield held above the 4.8% mark, with yields in the U.K., France, and Germany also climbing in tandem.

Market analysts suggest that rising yields are intensifying valuation pressures on risk assets. Investors are now closely monitoring the policy direction of major central banks and upcoming inflation data for further clues on the market's next move.