Finance

Energy markets responded aggressively to the military escalation, with West Texas Intermediate futures closing above $90 per barrel for the first time in over a month. Global benchmark Brent crude similarly jumped roughly 4.6% to surpass $94, boosting the stock values of domestic energy giants like Chevron and ExxonMobil.

The benchmark 10-year U.S. Treasury yield climbed to 4.79%, marking its highest point since early 2025 as a global bond market selloff accelerated. Investors are increasingly concerned that elevated energy costs will keep inflation sticky, adding significant upward pressure on borrowing costs and weighing heavily on highly valued equities.

Bitcoin and Ethereum faced downward pressure as market-implied odds for a September Federal Reserve interest rate increase surged past 65%. Bitcoin slipped toward the $78,000 threshold as investors recalibrated for a higher-for-longer rate environment, which traditionally dampens appetite for non-yielding digital assets.