Wall Street once again experienced broad market losses, with the Nasdaq and S&P 500 turning in their third-straight drop following hawkish commentary from Fed Chairman Jerome Powell. The Dow logged a 250-point drop as the 10-Year Treasury yield inched closer to the 5% level and 16-year highs. Finally, the Cboe Volatility Index (VIX) marked its third-straight win and fifth in the last six sessions. 

OIL FUTURES ADVANCE DESPITE U.S. SANCTION UPDATE

Crude futures moved higher Thursday, brushing news that the U.S. eased sanctions on Venezuela amid anxieties over the war in the Middle East. Crude for November delivery rose $1.05, or 1.2%, to settle at $89.37 per barrel.

Gold futures moved higher as well, with the safe-haven asset rising in the wake of Fed Chair Powell's hawkish comments. December-dated gold adding $12.20, or 0.6%, to settle at $1,980.50 an ounce

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