Finance

Crude oil futures surged as much as 7.7% today, with Brent crude approaching $119 per barrel following reports of an extended naval blockade near the Strait of Hormuz. Analysts warned that the ongoing energy crisis could continue to pressure global markets as approximately 10 to 12 million barrels of crude remain restricted from daily supply.

U.S. equity markets finished the session with narrow movements as the S&P 500 and Nasdaq ended nearly flat while the Dow Jones Industrial Average fell 0.6%. Investors focused on a diverging AI narrative, where gains in megacap names like Amazon and Google were offset by a sharp 8% drop in Arm Holdings and broader weakness in semiconductor stocks.

The 10-year U.S. Treasury yield jumped more than six basis points to reach 4.416% following the Federal Reserve's policy announcement and rising energy costs. This move represents one of the highest settlement levels in 2026 as traders reduced bets for any potential interest rate cuts later this year.