Finance

U.S. retail sales experienced a notable decline in July, matching a drop in preliminary consumer sentiment readings for August. While the cooler economic numbers reduce the likelihood of interest rate hikes from the Federal Reserve, they have stoked concerns over a broader economic deceleration.

Crude values increased by more than 1% following reports of a vessel being targeted while exiting the Persian Gulf. Ongoing naval hazards in the area, compounded by separate attacks reported on key infrastructure, have kept risk premiums highly volatile across international energy markets.

Bitcoin slipped underneath the $63,000 threshold on Friday alongside broader downward movements across traditional stock indices. Cryptocurrency sentiment was further dampened after the Securities and Exchange Commission abruptly canceled a scheduled meeting that was meant to explore tokenization and startup fundraising frameworks.