Finance

Energy markets remain highly volatile as ongoing conflict in the Middle East and military engagements involving Iranian oil tankers apply upward pressure on global commodities. Brent crude futures moved back toward the $100 per barrel threshold, while West Texas Intermediate neared $93 per barrel. The persistent strength in energy costs continues to exacerbate market fears of a renewed inflationary cycle.

Digital assets experienced notable downward momentum as the Nasdaq Crypto Index shed over 2.5% in a broad market pullback. Bitcoin slid roughly 2.5% to settle near the $84,000 level, reversing some of its recent upward progress. Ether also fell more than 3%, underperforming the largest cryptocurrency amid the wider macroeconomic retreat.

Major consumer discretionary brands faced headwinds as corporate announcements failed to lift investor sentiment. McDonald's shares slipped despite the company announcing plans to deploy up to $8.5 billion toward improving its restaurant fleet and leveraging technology to counter industry rivals. Meanwhile, food manufacturer General Mills similarly watched its stock fall despite posting first-quarter fiscal 2027 earnings that surpassed Wall Street projections.