The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite extended their declines to four consecutive sessions on Thursday, falling 0.4%, 0.5% and between 0.8% and 1%, respectively. Crude prices rose sharply after Iranian military strikes on US Navy vessels in the Strait of Hormuz, with Brent above $105 a barrel and West Texas Intermediate above $100. The 10-year Treasury yield climbed beyond 4.9%, its highest level in three years, adding pressure to equity valuations, particularly technology stocks. The Producer Price Index (measure of wholesale inflation) rose 5.4% annually, while its core measure increased 4.6%, broadly matching forecasts. Investors are awaiting Friday’s consumer-price data, although market observers say one report may not change Federal Reserve policy while energy prices and bond yields continue rising. The European Central Bank raised rates by 25 basis points, and markets broadly expect a similar Federal Reserve move. President Trump said oil prices may remain elevated through the midterm elections and proposed $5,000 payments for all American adults if Republicans retain congressional control; the proposal would require legislative approval, and its financing remains unclear. Oracle is due to report quarterly results after Thursday’s close, with investors watching artificial-intelligence infrastructure spending and demand.