Finance

Major U.S. stock indices concluded a highly volatile trading session with mixed results as investors swooped in to buy the dip late in the day. The Dow Jones Industrial Average dropped roughly 161 points, securing its third consecutive daily loss. Meanwhile, the S&P 500 finished effectively flat, and the tech-heavy Nasdaq Composite managed to eke out a razor-thin gain of 0.01%.

International crude benchmarks scaled up significantly, with Brent crude futures surging over 3% to settle above $106 per barrel. Energy markets faced severe upward pressure following a Houthi attack on Saudi Arabia, raising severe supply disruptions. The commodity pared some intraday gains after unconfirmed reports emerged that the U.S. and Iran are exploring a diplomatic route to open the Strait of Hormuz.

Market participants closely monitored a high-profile summit between U.S. President Donald Trump and Chinese President Xi Jinping. Prior to the meeting, Treasury Secretary Scott Bessent announced an extension of their bilateral trade truce until mid-January. This move prevents a harsh wave of new tariffs that were originally scheduled to take effect in November, providing mild structural relief to global trade lines.