S. inflation data for clues on the outlook for markets and interest rates.

9%. 1% and was the weakest performer on the index.

Oil prices extended their recent decline as expectations grew that the Strait of Hormuz could reopen, potentially allowing crude supplies to increase. Brent crude futures fell for a third straight session, dropping more than 2% to around $86 a barrel.

S. President Donald Trump.

The nearly six-month conflict has disrupted oil markets and heightened concerns over global inflation. The decline in crude prices helped push bond yields lower, easing some pressure on equity markets.

Investors are also closely watching developments around the Strait, a crucial route for global energy shipments, for signs that supply disruptions could ease. Attention is now turning to Nvidia’s second-quarter results, due later on Wednesday.

The artificial intelligence chipmaker has become a key gauge of the sustainability of the AI investment boom, with investors looking for evidence that strong spending on AI infrastructure can continue to support elevated market valuations. 2% ahead of the results, reflecting some caution before Nvidia’s report.

S. inflation report later on Wednesday.

According to Reuters, investors are looking for fresh signals on price pressures and the likely path of Federal Reserve interest rates, making the data an important factor for both bond and equity markets.