Finance

Global energy markets are experiencing significant volatility, with Brent crude futures pushing toward $120 per barrel due to a near-total blockade of the Strait of Hormuz. West Texas Intermediate futures also advanced past $102 a barrel as threats to Iranian energy infrastructure exacerbated supply concerns, contributing to the largest monthly gain for oil since 1990.

The yield on the benchmark 10-year Treasury note fell to approximately 4.33% after reaching an eight-month high of 4.48% just days prior. This easing followed remarks from Federal Reserve Chair Jerome Powell, which tempered immediate concerns regarding additional interest rate hikes despite persistent inflationary pressures from rising energy costs.

Cryptocurrency markets are showing signs of consolidation after a transformative month of U.S. regulatory progress, including new token classifications and direct Federal Reserve access for certain firms. Despite these structural wins, Bitcoin remains down roughly 4% for the month as it reacts to a strengthening U.S. dollar and a cautious macroeconomic outlook.

Major technology stocks like Meta Platforms have seen sharp declines, with some shedding over 10% in a single week due to high spending on artificial intelligence and emerging legal risks. While specialized firms in AI defense software and semiconductor infrastructure continue to attract interest, broader sector performance is being hindered by sky-high valuations and shifting revenue expectations.