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."

S&P 500.

"You look at debt levels around the world that are at stratospheric levels and increasing. The solutions for curing that do not seem readily apparent ... I don't see the political willingness to tackle this anywhere. I think that's a problem," Maris added.

"I think the fact that this is all happening in a period of healthy global economic growth, that you're seeing the debt levels pick up, means that we're in a more precarious place for if there's disturbance."