Global Markets and Geopolitical Tensions Shake Stocks and Bitcoin

Markets fluctuated with U.S. stocks rising and Bitcoin rebounding amid anticipation around the Federal Reserve's rate decision. Turkey's political turmoil impacted its stock and currency performance. As the U.S. dollar strengthened, global stock indices displayed mixed results, while cryptocurrencies and treasury yields saw positive movement.

U.S. stocks saw an upward trend on Wednesday alongside a rebound in Bitcoin, as investors awaited the Federal Reserve's rate decision for clues on future monetary policy changes. Tech-heavy stocks led the gains, fueling a 'risk-on' sentiment that strengthened the Nasdaq and bolstered the U.S. dollar.

Political tensions in Turkey escalated with the detention of President Erdogan's key political rival, which was denounced as 'a coup against our next president' by the opposition. This turmoil caused Turkish stocks to suffer and the lira to plummet, exacerbating economic uncertainty within the country.

Globally, market responses to geopolitical developments were mixed, with European stocks struggling and emerging markets seeing slight declines. Meanwhile, the dollar index rose in anticipation of the Federal Reserve's announcement, while Bitcoin and Ethereum posted gains amidst renewed investor confidence.

(With inputs from agencies.)