Finance

Global energy markets faced an inflationary shock as oil prices hit their highest levels since the spring. International Brent crude futures jumped 3.4% to finish above $101 a barrel, driven by escalating military confrontations between the United States and Iran in the Middle East.

Borrowing costs climbed rapidly as the 10-year U.S. Treasury note yield reached a session peak of 4.857%. Market participants expressed disappointment over the size of the Treasury Department's expanded bond buyback program, despite the government tripling its debt repurchases to $6 billion.

Shares of Meta Platforms defied the broader market selloff, climbing over 6% during the trading session. The surge came after the social media giant launched Muse AI, a personal assistant capable of executing user tasks like booking travel and managing emails.