Finance

Energy markets witnessed substantial volatility as international Brent crude prices touched $110 per barrel for the first time since May. The spike follows reports of intensified attacks on maritime vessels near the critical Strait of Hormuz, which amplified supply risks and added upward pressure on global energy metrics.

Fresh data released by the Treasury Department revealed that the U.S. fiscal deficit surged 12% to reach $1.99 trillion for the fiscal year ended in September. The expansion of the deficit, driven largely by a steep drop in corporate tax revenues and rising business refunds, spooked fixed-income investors and pushed the benchmark 10-year Treasury yield up to 5.113%.

Despite broad losses in growth and tech sectors, the Dow Jones Industrial Average displayed resilience by recording a 0.7% gain over the five-session weekly period. Market participants rotated away from high-multiple information technology companies and into consumer-oriented and safer value assets to weather macroeconomic uncertainties.