According to CoinMeta, and as reported by Reuters, oil prices broke through $100 per barrel. High yields on three-year Treasurys dragged down the U.S. stock market, with the S&P 500 index falling by 0.4% and the Nasdaq declining by 0.3%, continuing the losses seen earlier this week. Currently, the market expects a 60% probability of the Federal Reserve raising interest rates this month. Bessent announced a $6 billion bond repurchase program to ease yield pressures, but there was still selling pressure in the bond market. Friday’s CPI report will determine whether the Federal Reserve will take action.