The Globe and Mail reports in its Friday edition that North American stock indexes closed lower on Thursday, with Nasdaq sinking more than 2 per cent, as the latest earnings updates from Big Tech revived concerns about heavy artificial-intelligence spending, while soaring oil prices amped up inflation worries, lifting bond yields worldwide. The S&P 500 fell more than 1 per cent as losses were broad-based after investors were unimpressed by second-quarter results from Alphabet and Tesla. Stocks came under additional pressure as Brent crude oil futures rose above $100 (U.S.) a barrel for the first time since May. Intensifying Middle East hostilities fanned worries about global oil supplies. The U.S. military launched another round of air strikes on Iran, and Iran fired at U.S. bases in nearby countries. U.S. President Donald Trump vowed "major military punishment" for Iran and Houthis, after the Yemeni fighters struck two Saudi oil tankers in the Red Sea. The S&P/TSX Composite Index ended down 292.45 points at 35,192.66. Gold ended down 2 per cent, while the energy group was up 2.2 per cent. With oil prices rising, inflation worries pushed U.S. 10-year yields to their highest levels since early 2025.