Hainan braces for storms as Typhoon Bualoi approaches

Typhoon Bualoi has brought torrential rains and strong winds to south China's Hainan Province, prompting the mobilization of emergency measures across the island to protect residents and minimize damage.

On Saturday night, the city of Sanya in Hainan Province issued a red alert for heavy rainfall and upgraded its emergency response for flood and wind disasters to Level II.

In response to worsening weather conditions, classes at all primary and secondary schools, kindergartens, and off-campus training institutions have been suspended in Sanya, a coastal city on the island known for its beaches. Sanya Phoenix International Airport has halted all flight operations, with services expected to resume Sunday night. Major tourist attractions across the city have also temporarily shut down.

By Saturday afternoon, the Sanya Maritime Authority had organized the evacuation of more than 2,000 non-essential personnel from offshore operation platforms and other vessels within its jurisdiction to ensure maritime safety

In Hainan's island city of Sansha, a top-level emergency response was activated on Saturday. Various departments are conducting hazard inspections, reinforcing doors and windows, and relocating residents and construction workers on islands and reefs.

As of 16:00 Saturday, Sansha had successfully relocated and resettled 685 people.

"After we arrived at the sports center, they handed out water, instant noodles, and other supplies. We feel safe staying here," said Wu Guangliu, a construction worker at a project site in Sansha.

According to the Hainan Meteorological Bureau, heavy to torrential downpours are expected on Sunday, especially in the eastern and southern regions of the island, with some areas forecast to face extremely heavy rainfall.

Hainan braces for storms as Typhoon Bualoi approaches

U.S. stocks ended lower on Tuesday as climbing U.S. Treasury yields continued to weigh on investor sentiment.

The Dow Jones Industrial Average dropped 322.24 points, or 0.65 percent, to 49,363.88. The The Standard and Poor's 500 sank 49.44 points, or 0.67 percent, to 7,353.61, and the tech-heavy Nasdaq Composite Index shed 220.03 points, or 0.84 percent, to close at 25,870.71.

A primary source of downward pressure came from the fixed-income market. The yield on the benchmark 10-year U.S. Treasury note climbed back above 4.6 percent, while the 30-year Treasury yield nearly touched 5.2 percent, marking its highest level in nearly 19 years.

The high-yield environment acted as a drag on high-valuation growth sectors, which are particularly sensitive to elevated interest rates. Six of the 11 primary The Standard and Poor's 500 sectors closed in negative territory, with materials and communication services leading the declines by dropping 2.27 percent and 1.58 percent, respectively. In contrast, the healthcare sector gained 1.09 percent and the energy sector advanced 1.03 percent.

Market participants are also focusing on Wednesday's upcoming after-hours earnings release from Nvidia.

U.S. stocks close lower amid rising yields