Market brief — 24 October 2026

US equities weakened as another surge in oil revived concern that energy inflation will keep interest rates restrictive. The S&P 500 fell 0.5% and the Dow Jones Industrial Average dropped 1.2% to 52,215.16, while the Nasdaq Composite slipped 0.2% to 25,955.34 after technology shares stabilized from the prior selloff. Nearly three quarters of S&P 500 constituents declined, showing that pressure broadened beyond artificial intelligence stocks. Energy shares gained as crude advanced, but transport, consumer and other fuel-sensitive businesses faced renewed margin concerns. The Dow underperformed because its industrial and economically sensitive composition was more exposed to the higher-cost backdrop.

Brent crude climbed 3.1% to $116.72 a barrel, its highest level since June 2022, after Houthi attacks in Saudi Arabia intensified fears of further Middle East supply disruption. The move extended Brent's rise from below $97 at the start of October and strengthened the channel from geopolitics to inflation expectations. The 10-year Treasury yield edged up to 4.99% from 4.96%, reversing part of the previous session's safety-driven decline as investors considered how persistent oil pressure could affect the Federal Reserve. Gold remained near $4,000 an ounce and headed for its sharpest weekly fall in more than four months. Even with geopolitical stress, the metal was constrained by rate uncertainty, crowded positioning and continued cash raising after its break below key support.

Crypto traded defensively but avoided another large liquidation wave. Bitcoin held near $81,400 on Binance after ranging between roughly $81,100 and $82,100, while Ether stabilized around $2,400 after the previous session's sharper decline. The narrow ranges suggested that forced selling had eased, but neither asset recovered the levels lost during the technology-led reversal. Oil-driven inflation risk limited the benefit of Treasury yields remaining below 5%, while positive Ether funding and lower open interest indicated cautious rather than aggressive risk taking. The transmission remained macro-led: expensive energy reduced expectations for easier policy, keeping liquidity-sensitive assets capped.

Vietnam extended its advance for a fourth session. The VN-Index rose 0.77% to 1,774.15 and the VN30 gained 0.75% to 1,907.09, with banks and real estate helping the large-cap index. Twenty VN30 members advanced, although the broader HOSE market recorded 144 gainers and 156 decliners, showing narrower participation. Trading value increased to about VND16.94 trillion and remained above its recent average. Foreign investors reversed the prior two sessions of buying and sold a net VND478 billion, led by heavy selling in ACB. Strong domestic demand and quarterly earnings momentum kept the index rising, but renewed foreign outflows and oil above $116 increased the risk to transport costs, inflation and Vietnam's external balance.