U.S. Vice President Vance said the U.S. is reforming H-1B and J-1 visa programs. He said universities employing J-1 visa holders, including Harvard, Yale, Stanford, Brown and MIT, should be investigated.

US stock futures fell in European trade on Thursday: Dow Jones futures down 0.56% at about 51,160, S&P 500 futures down 0.28% at about 7,830 and Nasdaq-100 futures down 0.44% at about 31,270. US Treasury yields rose back toward levels not seen since 2002. Elevated oil prices are intensifying market concerns about inf, while rising US–Iran tensions risk disruption to the Strait of Hormuz. Markets will watch Fed officials’ remarks for policy signals; investors also await quarterly results from PepsiCo, Progressive and Delta Air Lines due Thursday.

China A-share battery concept stocks rose in early trade. Zizhu Gaoke notched a third consecutive daily limit-up; Shidai Wanheng hit the daily limit. Xiongtao, Yishitong, Jin Yinhe, Longpan Technology and Zhenhua New Materials also advanced.