Global financial markets closed in negative territory as a sharp rise in oil prices offset the Federal Reserve's decision to keep interest rates unchanged.
The central bank maintained its benchmark rate in the 3.50% to 3.75% range, but the policy hold offered little comfort to investors already grappling with escalating geopolitical tensions.
The Federal Reserve's lack of forward guidance on its next policy step added to market uncertainty.
Brent crude and WTI benchmarks climbed sharply, driven by supply concerns linked to ongoing geopolitical instability.
The energy price spike acted as a headwind for equities, eroding gains that might have otherwise followed the Fed's dovish-leaning pause.
US equities declined in the session, with selling pressure broadening across sectors sensitive to input costs and inflation expectations.
The Federal Reserve's lack of forward guidance on its next policy step added to market uncertainty.