Finance

Brent crude and West Texas Intermediate futures both retreated by more than 2%, with Brent settling at $87.07 per barrel. While geopolitical tensions between the United States and Iran persist, the decline in energy costs helped alleviate immediate inflation anxieties on Wall Street.

Shares of Cisco Systems tumbled over 8% after its conservative growth projections failed to satisfy high investor expectations, dragging down the Dow Jones Industrial Average. Conversely, SanDisk shares surged 14% following an optimistic long-term revenue forecast tied to multi-year demand for memory chips.

The Securities and Exchange Commission canceled a highly anticipated meeting scheduled for Friday, where the agency was slated to vote on a new offering framework for certain crypto-based investment contracts. Cited as a scheduling conflict, the postponement marks the latest bureaucratic delay for an industry awaiting legislative clarity from Congress.