Brent crude oil prices have broken through the psychological $100 per barrel threshold, triggering a fresh wave of selling across global equity markets.
The surge in the benchmark energy price has intensified pressure on investors already grappling with a broad-based decline in stock valuations.
US equity markets extended their losses on Thursday, weighed down by the sharp rise in crude oil prices.
The Dow Jones Industrial Average and the S&P 500 faced renewed downward pressure as higher energy costs threatened to squeeze corporate margins and consumer spending.
The sell-off was not limited to energy-sensitive sectors; technology stocks also came under fire as investors questioned the return on investment for artificial intelligence infrastructure amid rising input costs.
This development marks a significant escalation in the ongoing market volatility.