Financial shares fell as the bonds selloff kept borrowing costs near multidecade highs. The 10-year Treasury yield reached its highest mark since May 2002.

American Express is rolling out an expense-management platform with AI features alongside its new corporate card, as the company's corporate business faces mounting competition from fintechs. The new corporate cashback card is Amex's first to be integrated with expense-management software. The platform, powered by a new dedicated mobile app, will eventually deploy AI agents to automate some routine expense management and accounts payable workflows.

Robinhood Markets helped usher in a new generation of investors by making it easy to buy stocks on a smartphone. The next investing revolution, its executives said, will be led by bots. Artificial intelligence was front and center at Robinhood's annual event for its most-active users.

The Federal Reserve's independent watchdog said it found no evidence of administrative misconduct and no grounds to refer anyone for criminal prosecution over the renovation of the central bank's headquarters. The report, by the Fed's office of the inspector general, removes the last formal threat to former Fed chair Jerome Powell after the project became a vehicle for the Trump administration's potential legal campaign against him.