The panic sentiment drives a frenzy of funds pouring into US bonds, with strategists betting on yields falling to 3.8%.

According to the Wisdom Financial APP, on Wednesday, global stock markets experienced a sell-off, with market risk aversion rising, pushing bond prices higher. All types of U.S. government bonds rose, pushing the yield on the benchmark 10-year Treasury to a one-week low. Earlier, concerns about high tech stock valuations had already impacted global stock indices. Australian and New Zealand government bond yields also fell during the same period, while Japanese government bond yields also slightly decreased.