Finance

Major Wall Street benchmarks experienced multiple reversals to finish little changed on Thursday, struggling to extend gains as bond market pressures mounted. The Dow Jones Industrial Average dropped 0.3%, marking its third consecutive negative session, whereas the S&P 500 slipped less than 0.1%. Big Tech stocks engineered a modest intraday recovery, helping the tech-heavy Nasdaq Composite finish flat with a negligible gain.

Global energy commodities fluctuated rapidly as traders assessed conflicting headlines about the ongoing military conflict with Iran and potential shipping resolutions. Brent crude oil prices spiked up more than 2% during the day to cross $100 a barrel following reports of Yemeni Houthi actions and ongoing friction surrounding the Strait of Hormuz. These volatile shifts closely tracked and influenced the parallel swings observed in the bond markets.

Digital asset markets have recovered soundly after facing recent policy headwinds from the legislative collapse of the CLARITY Act in the U.S. Senate. Institutional demand remains highly robust, evidenced by U.S. spot Bitcoin ETFs securing nearly $1.7 billion in net inflows over a brief two-day window. While a leveraged pullback eventually pulled Bitcoin prices toward the $84,000 range, analysts highlighted strong underlying network infrastructure and regulatory workarounds as a cushion for the industry.