Finance

Healthcare and financial sectors provided a cushion to the broader market sell-off following a wave of robust second-quarter corporate earnings. UnitedHealth Group surged after beating Wall Street expectations and raising its full-year profit forecast, helping to lift the healthcare sector by 2.2%. Major financial institutions, including BlackRock, Morgan Stanley, and PNC Financial Services, also reported quarterly earnings that handily outpaced analyst estimates, leading to gains in their respective stock prices.

Financial markets faced additional headwinds as the United States initiated fresh military strikes against Iran. The re-escalated conflict prompted a shift toward risk-off sentiment, causing oil prices to fluctuate and putting downward pressure on high-growth equities. Investors are closely monitoring the situation out of concern that prolonged regional hostilities could trigger an increase in energy costs and subsequent inflationary pressures.

The digital asset market pulled back on Thursday, mirroring the risk-off behavior seen across the traditional technology sector. Bitcoin dipped below the $65,000 threshold to settle near $64,000, while Ethereum and Solana also registered single-digit percentage losses. The decline represents a brief consolidation phase following positive inflows into spot crypto exchange-traded funds earlier in the week.