Brent Crude Surges Past $100 as Trump Threatens Iran Amid Oil Tanker Attacks

U.S. stocks plummeted on Thursday as Brent crude oil surged past $100 per barrel for the first time since May, fueled by Houthi rebel attacks on Saudi tankers in the Red Sea and President Trump's threats of severe military retaliation against Iran.

The energy spike stoked inflation fears, pushing the 10-year Treasury yield to 4.70% and driving market expectations for a Federal Reserve rate hike next week up to 36%.

Megacap tech shares suffered heavy losses as Alphabet plummeted over 6% after drastically raising its AI capital spending forecast, while Tesla cratered nearly 14% on a surprise profit decline.