Finance

Major equity indexes, including the Dow Jones Industrial Average and the S&P 500, turned lower following the central bank's announcement and ensuing hawkish commentary. Broad selling across sectors dragged the Dow down to its lowest level since June, highlighting investor concerns over future policy direction.

A significant escalation of tensions in the Middle East, including disruptions near the Strait of Hormuz and a pipeline shutdown in Saudi Arabia, has driven oil prices upward. Brent crude futures crossed the $100 per barrel mark, further compounding macroeconomic uncertainty and fueling consumer cost concerns.

The benchmark 10-year U.S. Treasury yield surged past 5% for the first time since 2007, propelled by high energy costs and heavy supply pressures from corporate AI-related debt issuance. Although yields experienced a minor pull back, long-term borrowing costs remain anchored near multi-decade highs.