Finance

Crude oil prices fluctuated sharply, with benchmark Brent crude rising over 4% to top $104 per barrel following fresh oil tanker attacks in the Persian Gulf. However, energy markets experienced a late-session cooling after President Trump announced that the United States would not initiate military strikes against Iran prior to the upcoming midterm elections.

U.S. government bond yields initially surged on hawkish comments from Federal Reserve Governor Christopher Wallace, who stated that multiple interest rate increases might be required to curb inflation. Yields subsequently retreated from their intraday highs following strong investor demand during an auction of 30-year Treasury bonds.

Wall Street indices showed contrasting results at the closing bell, with the S&P 500 falling 0.47% and the Nasdaq pulling back significantly due to heavy tech losses. Conversely, the Dow Jones Industrial Average managed to eke out a modest gain of about 51 points as stabilizing bond yields relieved pressure on broader market sectors.