Finance

Oil prices jumped significantly as fresh geopolitical friction, including localized tanker attacks in the Persian Gulf and Strait of Hormuz, stoked supply disruption fears. Additionally, offshore production halts caused by Hurricane Isaias in the Gulf of Mexico further amplified the upward pressure on energy markets, pushing Brent crude past $104 a barrel.

Treasury yields initially climbed to multiyear highs following a surge in energy prices and comments from Federal Reserve officials signaling that more rate hikes could be required to combat sticky inflation. However, a strong reception for multibillion-dollar government auctions of 10-year and 30-year notes helped ease yields back from their intra-day peaks.

The digital asset market recorded pronounced losses, with Bitcoin slipping beneath its critical $84,000 support level to its lowest valuation in a month. This downswing triggered substantial derivative liquidations across the crypto ecosystem, while hybrid Bitcoin miners suffered severe hits due to their overlapping capital exposure to the stumbling AI sector.