What's Moving Markets Today? — WSJ
By Shradha DineshMajor indexes edged lower as the yield on the 10-year Treasury note pushed past 5%.Markets have had a lot to digest this week: a quarter-point interest-rate hike, fluctuating fuel prices and big tech's P(doom), aka the probability that AI results in a existentially catastrophic outcome, according to the Silicon Valley ecosystem.Here's what is moving markets today:Tech stocks: As bond yields climbed, driven by higher oil prices, tech stocks broadly flattened. Today's standouts are those behind AI infrastructure. Sandisk and Coherent posted 8% and 4% intraday gains, respectively.Oil prices: Oil prices extended declines for a third consecutive session Friday on news that damage to Saudi Arabia's East-West pipeline and to an oil tanker hit in the Strait of Hormuz late on Thursday may not be as extensive as feared. Before prices reversed course, Brent crude recovered some of its losses after Bloomberg reported that Saudi Arabia told at least two European customers that they would not receive crude deliveries next month. Brent crude is just under $104 a barrel, or down 1%.It's another big day for crypto and alternative assets: Bitcoin broke above $80,000. Strategy, Coinbase and MARA holdings are up more than 10%. Exchanges, like Robinhood and Bullish, and cryptocurrency miners are not far behind. The gains follow some new rules allowing exchanges to offer tokenized stocks and regulatory agencies stepping in to oversee crypto after the failure of a major bill this week.This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).