Finance

Global energy markets experienced a sharp downturn, with crude prices shedding around 5% to 6% in early trading. The sell-off was triggered by expectations that diplomatic resume-talks could lead to a stable reopening of the vital Strait of Hormuz, quickly defusing a prior surge in energy costs.

Cryptocurrencies failed to replicate the broader macroeconomic relief rally, with Bitcoin sliding below the $63,000 threshold. The sector faced distinct selling pressure after an ongoing exploit linked to Coldcard hardware wallets drained nearly $89 million across thousands of addresses, spooking digital asset investors.

The Japanese yen strengthened dramatically against the greenback following confirmed, rare joint interventions by the U.S. Treasury Department and Japan's Finance Ministry. The coordinated purchase of yen was enacted to counter excessive volatility after the currency cratered to a four-decade low.