Finance

Following the cooling employment data, yields on U.S. government bonds turned lower, reversing some of their recent momentum after hitting 24-year highs earlier in the week. The drop in yields provided relief to equity markets, particularly benefitting high-valuation technology companies and artificial intelligence hardware firms.

Oil markets faced downward pressure after European leaders agreed to a request from the United States to tap strategic diesel reserves in an effort to alleviate tight energy supplies. Despite heightened geopolitical tensions in the Middle East that initially supported prices, West Texas Intermediate settled lower at $91.11 a barrel, while Brent slipped to $102.25.

The cryptocurrency market experienced a burst of volatility as Bitcoin reclaimed the $85,000 territory, eventually trading near the $86,500 zone. The sudden upward movement triggered significant liquidations of short positions across major digital asset exchanges as macroeconomic pressure briefly abated.