FTC Sues Amazon Over Alleged Advertising Misconduct Amid Global Market Volatility

The US Federal Trade Commission has sued Amazon over allegations that the e-commerce company misled advertisers about pricing. The FTC claims that Amazon's advertising auctions do not prioritize products relevant to search terms, as the company maintains.

Apart from the lawsuit, gold prices have fallen due to higher rate expectations and rising oil prices. Spot gold declined 0.26% to $4,441.04 an ounce, while US gold futures for December delivery fell 0.88% to settle at $4,489.90.

Oil prices, on the other hand, have surged over 2.5% as renewed military action between the US and Iran has raised concerns about global supply disruptions. Brent crude futures rose 2.53%, to $90.33 a barrel, while US West Texas Intermediate crude gained 2.85%, to $85.78.

Bitcoin traded around $79,000 at the start of Monday's Wall Street session as bond yields approached multi-year highs. However, the cryptocurrency faced a technical warning ahead of the August monthly close due to a potential hidden bearish divergence between its daily price and relative strength index.