Meanwhile, U.S. Treasury yields moved higher, with the benchmark 10-year yield rising 3.9 basis points to 4.121 percent, and the 30-year yield climbing 4.4 basis points to 4.7607 percent. Bond yields move inversely to prices.

“U.S. Treasuries have built positive momentum recently, regaining some hedging features. However, as a first reaction, yields spiked across the globe. Despite the oil shock, inflation and U.S. budget fears, we would expect safe-haven flows to dominate the narrative, capping risks of surging U.S. Treasury yields. Keep duration exposure through bonds with little or no credit risk, focusing on shorter-term debt for riskier segments,” added the note.

On Wall Street, S&P 500 futures fell 0.43 percent after rising 0.78 percent in the previous session, while Nasdaq futures dipped 0.53 percent after closing 1.29 percent higher.

Read: Oil prices jump over 3 percent to $84.41 as supply concerns persist amid escalating Mideast tensions

China’s stock market rises as economic growth target declines

China’s stock market rose as the country set its economic growth target for 2026 at 4.5-5 percent, a slight slowdown from the 5 percent expansion recorded last year, leaving room for policies aimed at reducing industrial overcapacity and rebalancing the economy. Beijing also unveiled its 15th five-year plan, pledging greater investment in innovation and high-tech industries, along with a notable increase in household consumption.

China’s blue-chip CSI300 Index rose 0.82 percent, while the Shanghai Composite Index gained 0.54 percent.

In currencies, the U.S. dollar resumed its advance after a pause in the previous session. The dollar index, which tracks the greenback against a basket of major currencies, rose 0.33 percent to 99.09. The euro slipped 0.29 percent to $1.1599, while the Japanese yen gained 0.01 percent to 157.08 per dollar.

In cryptocurrencies, bitcoin fell 0.44 percent to $72,435.16, while ether declined 0.091 percent to $2,122.83.

Concerns over energy supply continued to push oil prices higher, with crude gaining around 16 percent since the start of the war. U.S. crude rose 3.94 percent to $77.60 per barrel on Thursday, while Brent climbed 3.5 percent to $84.25 per barrel.

Spot gold also advanced, rising 0.78 percent to $5,175.47 per ounce.