Finance

A global bond market selloff paused late in the week, bringing down borrowing costs from their recent peaks. The 10-year Treasury yield finished at 5.18% after climbing to its highest closing level in nearly two decades earlier in the week. Investors monitored escalating geopolitical tensions and heavy government debt loads, which continue to dictate global fixed-income volatility.

Oil prices experienced a notable pullback, with international benchmark Brent crude sliding below $98 a barrel and West Texas Intermediate dropping over 2% toward $92 a barrel. The selloff was driven by reports that diplomatic negotiations in New York could lead to a deal to reopen the strategically critical Strait of Hormuz. Lower energy costs provided crucial breathing room for inflation-weary markets.

Information technology led the broader market gains this week, heavily buoyed by artificial intelligence developments. Akamai Technologies saw its shares jump after announcing an $11.6 billion multiyear deal with AI startup Anthropic. Additionally, Meta Platforms surged nearly 13% for the week following strong enthusiasm surrounding its new AI agent.