Finance

The price of Brent crude sank approximately 5% to settle around $83.77 a barrel as immediate concerns over oil disruptions in the Persian Gulf eased. This decline in energy commodities helped pull down U.S. Treasury yields, alleviating some corporate borrowing concerns. The yield on the 10-year Treasury note sank to 4.68%, down from 4.75% late last week.

The "Magnificent Seven" tech giants reclaimed market leadership after enduring weeks of momentum sell-offs and volatility driven by AI-spending skepticism. A broad rotation back into technology boosted the sectors, pushing Amazon to a historic $3 trillion market capitalization. Communication services led the S&P 500's primary sectors, supported by gains in Alphabet and Microsoft.

Despite the diplomatic breakthrough with Iran that buoyed traditional equities, the cryptocurrency market faced notable downward pressure. Digital asset performance was primarily hampered by an ongoing multi-million dollar software exploit targeting Canadian hardware provider Coldcard. The resulting erosion of investor confidence in self-custody cold wallets prompted dormant coins to shift on-chain as Bitcoin fluctuated near the $63,000 threshold.