Finance

Energy prices fell as West Texas Intermediate dropped toward $92 a barrel, snapping a multi-session winning streak that pushed oil prices to multi-week highs. The downturn came after Russia partially lifted diesel export limits following a recent deal, helping mitigate immediate global fuel shortage worries. However, the market remains supported by ongoing shipping vulnerabilities in the Strait of Hormuz and recent attacks on infrastructure.

Bitcoin experienced sharp price swings between $80,850 and $83,500, leading to massive liquidations primarily impacting long positions. The wider digital asset market also faced headwinds, with notable percentage declines across Ethereum and Solana as macroeconomic anxiety prompted investors to reduce exposure to higher-risk assets. Traders are remaining cautious as institutional fund outflows and macroeconomic data uncertainty influence short-term price discovery.

A deeper look at market breadth shows that the equity rally has been exceptionally top-heavy, with less than half of the firms in the benchmark trading above their 200-day moving average. The information technology sector, powered heavily by major semiconductor manufacturers, is responsible for the lion's share of index returns. In contrast, under-the-surface corrections have left a significant minority of public companies posting negative returns for the period.