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Equity markets have also entered risk-off mode, with the major U.S. indices falling for three straight sessions and European and Asian markets also in the red. That follows strong gains this year, with many stock markets at record highs as enthusiasm around the AI boom continues, despite the volatile geopolitical backdrop. "The fundamental tenets [in markets] are a little shakier than they've been," George Maris, chief investment officer and global head of equities at Principal Asset Management, told CNBC's "Squawk Box Europe" on Wednesday. "And if the cost of money, the cost of risk rises, that's what you're seeing with the global rise in yields everywhere."
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