Finance

U.S. oil prices topped the $100 threshold, hitting their highest marks since May due to supply disruptions and ongoing conflict with Iran. West Texas Intermediate closed up 6.7% at $102.48, while Brent crude climbed 5.9% to reach $107.63. The dramatic increase in energy costs has severely weighed on broader market sentiment by intensifying macroeconomic risks.

The bond market faced intensified selling pressure on Thursday, pushing long-term interest rates to levels not seen in years. The 10-year Treasury yield surged past 4.94% as wholesale producer prices matched expectations but annual baseline inflation numbers rose. Traders are heavily pricing in a quarter-percentage-point rate hike from the Federal Reserve during next week's assembly.

Technology sectors experienced highly mixed performance as rising bond yields pressured growth-dependent equities. High-flying semiconductor companies like Intel and Micron Technology saw deep losses of roughly 5% over economic slowing concerns. Conversely, Apple shares bucked the downward market trend, rallying 3.6% following the successful retail debut of its first foldable smartphone.