US equity markets opened lower on Wednesday as investors digested a fresh spike in crude oil prices and rising bond yields.
The sell-off was broad-based, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all declining by approximately 1% in early trading.
Brent crude prices surged toward the $100 per barrel mark, driven by reports of attacks on Saudi oil tankers in the Red Sea.
The pullback reflects growing caution among traders as geopolitical risks in the Middle East continue to disrupt energy supply chains.
Brent crude prices surged toward the $100 per barrel mark, driven by reports of attacks on Saudi oil tankers in the Red Sea.
The energy shock has reignited concerns about inflationary pressures and potential supply constraints.
Simultaneously, US Treasury yields climbed, adding to the headwinds for equities as higher borrowing costs weigh on valuation multiples.