Finance

International Brent crude futures surged past $101 a barrel, marking their highest settlement price since mid-summer. The energy shock follows recent military confrontations between the United States and Iran that targeted maritime vessels and intensified threats to global energy corridors.

The yield on the 10-year U.S. Treasury note climbed to 4.85% after a revamped debt-purchasing program failed to satisfy investor expectations. Yields surged higher when the Treasury Department announced a $6 billion cap on its long-term debt operations, leaving fixed-income participants disappointed by the scale of the expansion.

Meta Platforms emerged as a bright spot in a down market, gaining over 6% following the introduction of its autonomous virtual assistant, Muse AI. The tech giant's surge insulated the broader tech sector from steeper pullbacks, offsetting parallel losses from competitors like Alphabet.