Finance

The U.S. stock market experienced a volatile session, closing mixed as investors scrambled to manage compounding macroeconomic pressures. The Dow Jones Industrial Average dropped roughly 161 points, continuing its multi-day losing streak, while the S&P 500 finished nearly unchanged. Conversely, the technology-heavy Nasdaq Composite managed a slight gain to end flat, recovering from sharper midday losses due to late-session dip-buying in mega-cap technology equities.

Energy markets fluctuated aggressively amid ongoing geopolitical tensions stemming from the conflict with Iran, which has threatened crucial shipping routes in the Persian Gulf. International benchmark Brent crude whipsawed throughout the session, dropping toward $99 a barrel before settling higher at $100.22, up 2.1%. Prices were heavily influenced by conflicting reports regarding regional attacks balanced against ongoing diplomatic discussions focused on reopening the strategic Strait of Hormuz.

Digital assets lost significant ground, snapping a short-term rally that had previously pushed prices toward year-to-date highs. Bitcoin fell beneath the $84,000 threshold to trade near $83,942, representing a sharp intraday decline, while Ethereum suffered a similar pullback to drop around 2.5%. This downward pressure came as widespread inflation worries caused market participants to rapidly price in higher odds for subsequent Federal Reserve interest rate hikes before the end of the year.