SoftBank shares fell as much as 13% in Monday’s AI selloff. Bloomberg reports it secured an $11.87bn loan for OpenAI, above its $10bn target.

U.S. stock futures fell Tuesday, with S&P 500 futures down 0.2%, Dow futures down 0.3% and Nasdaq futures off 0.1%. Artificial intelligence-related shares came under pressure on safety concerns. Oil prices continued to rise as the Middle East conflict persists, while the 10-year U.S. Treasury yield climbed to 5.01%, the highest level in 19 years. The market is also weighing increased expectations of a Federal Reserve rate hike, adding to pressure on equities.

Oil industry executives are warning that a global fuel crisis has arrived, with the Strait of Hormuz effectively shut and a key Saudi pipeline knocked offline. The pipeline damage is cutting supply by about 2.5 million gallons a day and is expected to last for weeks, while the market’s buffers have been largely used up. Brent crude is nearing $101 a barrel and diesel has hit a record $6.23 a gallon, according to the Wall Street Journal.

Electrical distribution equipment maker Forgent Power reported fiscal fourth-quarter net income of $53.3 million and adjusted earnings of 25 cents per share, beating analysts’ 23-cent estimate. Revenue came in at $461.7 million, above the $425.6 million forecast. The company also issued full-year guidance calling for earnings of $1.26 to $1.40 per share on revenue of $2.4 billion to $2.6 billion.

Grayscale has released its latest model portfolio with a 42% allocation to $ETH and 26% to $XRP. The disclosed weights reflect the firm’s institutional allocation view on the two major crypto assets.

Dow Jones futures fell nearly 350 points after attacks on Saudi energy facilities pushed Brent crude above $108 a barrel, adding to inflation worries. The 10-year US Treasury yield climbed above 5%, while investors positioned for a widely expected Federal Reserve rate increase on Wednesday. The backdrop includes data showing US consumer prices accelerated in August and core inflation posted its biggest increase in four months.

European equities fell to a three-month low on Tuesday as surging oil prices and higher bond yields weighed on risk appetite ahead of the Federal Reserve’s rate decision this week. The pan-European STOXX 600 slipped 0.8% to 630.99, with financial services and banks leading declines and UBS down 4.2%. Sentiment also weakened after Bank of America CEO Brian Moynihan said investment banking fees are projected to drop by at least 10% in the third quarter. Markets are watching the Fed’s policy decision later this week.

U.S. stock index futures fell on Tuesday, with Dow futures down 266 points, S&P 500 futures off 28 points and Nasdaq 100 futures lower by 90 points. Ahead of the Federal Reserve meeting, markets were pricing a 92% chance of a 25-basis-point rate hike, according to CME FedWatch. The 10-year U.S. Treasury yield climbed above 5% for the first time since 2023 as oil prices also rose. China reported a 5.2% year-on-year increase in industrial production.