Finance

Technology shares bore the brunt of the market selloff, with the Nasdaq Composite dropping 1.33% in its largest single-day percentage decline since late July. Chipmakers and hardware manufacturers led the retreat, fueled by fears that heavy infrastructure investments and debt-financing pressures are stretching valuations too thin.

Crude oil benchmarks advanced further as military escalations and stalled international negotiations disrupted shipping routes in the Strait of Hormuz. The supply anxieties pushed West Texas Intermediate crude toward $85 per barrel, lifting the S&P 500's energy sector to a fresh record high amid the broader equity downturn.

The Securities and Exchange Commission introduced a new regulatory proposal titled "Regulation Crypto Assets" to establish specialized securities compliance rules for the digital asset industry. The framework outlines fundraising and startup registration exemptions, providing a potential pathway for domestic crypto firms to raise capital amid stalled congressional legislation.