Finance

Global energy markets faced upward pressure as an increase in attacks on shipping vessels in the Strait of Hormuz renewed supply disruptions. The heightened geopolitical tension involving Iranian forces pushed Brent crude futures toward $102 per barrel. Financial analysts note that the prolonged closure of these shipping lanes could introduce further inflationary pressure into the global economy.

Wall Street is highly focused on the afternoon release of the central bank's minutes from its September policy meeting. Investors are looking to parse the internal debates among policymakers to gauge the likelihood of another interest rate hike later this month. The release comes after a unanimous decision last month left market participants seeking clarity on underlying division among members.

Digital currencies faced a downturn as investors trimmed their exposure to risk assets. Bitcoin fell below the $84,000 threshold, suffering a multi-percentage-point decline alongside Ethereum. The market downturn triggered a significant wipeout of hundreds of millions of dollars in leveraged long positions over a 24-hour period.