Finance

Global energy markets continue to experience heightened volatility as ongoing conflict in the Middle East disrupts crucial shipping lanes. Crude oil benchmarks rose significantly following reports of fresh attacks on commercial shipping in the Strait of Hormuz and intensifying geopolitical uncertainty. Brent crude futures pushed past the $100 per barrel mark, renewing fears across the financial sector regarding energy-driven inflationary pressures.

The cryptocurrency market faced a temporary pause in its early October rally as a strengthening U.S. dollar and spiking bond yields dented investor appetite for risk assets. Bitcoin fell back below the $84,000 threshold after failing to breach multi-month resistance near $87,000. Despite recent positive momentum that had characterized the start of the month, mixed spot ETF inflows and thin market liquidity have prompted traders to adopt a more cautious stance.

In corporate developments, Space Exploration Technologies has reportedly targeted a massive capital raise to support its expanding artificial intelligence infrastructure. The aerospace firm is looking to secure $40 billion to fund a substantial purchase of advanced microchips from Nvidia. The reports initially weighed on the private company's valuation metrics ahead of the opening bell while underscoring the relentless corporate demand for AI hardware.