Finance

Equities and bonds reacted sharply after the Federal Reserve delivered its first interest rate increase in over three years. Under Chairman Kevin Warsh, the central bank signaled a hawkish stance to address persistent inflation, causing initial intraday losses across indexes before tech shares staged a recovery.

Crude benchmarks declined for a third consecutive session as concerns over Middle Eastern logistical disruptions softened. Brent crude fell to around $103 per barrel and West Texas Intermediate dropped toward $100 per barrel as market participants responded to diplomatic and corporate efforts to restore affected pipeline flows.

Spot gold prices surged higher, capitalizing on falling crude oil markets and a minor retreat in U.S. Treasury yields. The non-yielding metal recovered from its recent post-Fed rate hike lows as cooling energy prices diminished short-term inflationary concerns for investors.