A recent sell-off in U.S. Treasuries has created significant market volatility, impacting various sectors including gold and currencies. Investors are increasingly wary as the U.S. presidential election approaches, with 10-year Treasury yields rising nearly 0.4% to 4.2%. Market analysts, including those from Morgan Stanley, warn that the election could lead to major shifts in market dynamics, compounding existing uncertainties related to interest rates, the labor market, and geopolitical tensions in Europe and the Middle East. Firms like Evercore also predict an increase in market volatility as the election date nears, indicating that the upcoming event is likely to add further risk for investors already on edge.