Finance

Energy markets saw substantial volatility as Brent crude surged over 7% to settle above $88 per barrel. The sudden spike followed the breakdown of a temporary truce in the Middle East and renewed missile strikes targeting U.S. forces. The brewing conflict continues to disrupt crucial shipping corridors like the Strait of Hormuz, presenting ongoing supply-side inflation challenges.

Large-cap semiconductor and artificial intelligence firms faced heavy selling pressure as part of a wider rotation out of high-flying tech assets. Popular industry leaders like Nvidia, Micron, and AMD contributed heavily to the downward trajectory of the Nasdaq, which has now dropped roughly 10% from its historic highs in June. Concerns remain high regarding extensive capital spending outlays paired with uncertain short-term monetization strategies.

Bucking the broader market downturn, Ford Motor closed over 2% higher following a strong quarterly earnings report. The legacy automaker outpaced Wall Street projections on both its adjusted profit and production metrics. Buoyed by solid demand for commercial vans and trucks, management increased its full-year profit outlook for the second time this year.