Finance

International Brent crude futures crossed the $100 per barrel threshold for the first time since July, settling at $101.21 following escalating military clashes between the United States and Iran in the Gulf of Oman. Domestically, West Texas Intermediate crude also jumped over 3.3% to close at $96.05 per barrel. Analysts fear that prolonged infrastructure disruptions in the Strait of Hormuz will trigger an energy shock and stall global disinflation.

The yield on the benchmark 10-year U.S. Treasury note surged to a multi-year high of 4.857% after market participants expressed disappointment over the scale of the government's bond repurchases. Although the Treasury Department tripled its operation size to buy back up to $6 billion in longer-term debt, investors had anticipates an even more aggressive expansion. The higher yields have placed added borrowing pressure on the broader financial markets.

Shares of Meta Platforms climbed 6.6%, marking one of the strongest individual performances on the S&P 500. The upward movement followed the official launch of the company's personal AI agent, Muse AI, which is designed to independently handle tasks like travel booking and email management even after users close the application. This product debut provided a tech sector bright spot amid an otherwise weak trading session.