Finance

Crude oil benchmarks remained elevated following attacks targeting shipping lines and energy infrastructure in Saudi Arabia amid ongoing tensions involving Iran. Brent crude held firm near the $105 per barrel mark, heavily influenced by an upward adjustment in price forecasts by the Energy Information Administration. Escalating global fuel costs continue to act as a principal driver behind broader macroeconomic inflation pressures.

Shares of Bank of America plummeted by 7.5% after reporting third-quarter profit and revenue figures that fell short of Wall Street estimates. The financial institution's bottom line was deeply impacted by a newly finalized $1.2 billion regulatory fine issued by the U.S. Treasury Department for anti-money laundering and sanctions violations. The penalty dragged down otherwise resilient underlying performances noted across some other banking peers.

Technology and semiconductor sectors logged noticeable losses, dragging down the tech-heavy Nasdaq Composite. Sentiment across the sector softened following operational updates from industry bellwether ASML regarding capacity limits and its inability to fully satisfy surging global market demands over the coming years. This correction reflects expanding investor concern over valuation sustainability amid shifting international dynamics.