Finance

Energy prices spiked as crude oil climbed above $101 per barrel following reports that a ceasefire between the U.S. and Iran is in a fragile state. The ongoing regional conflict and disruptions to supply through the Strait of Hormuz have added significant inflationary pressure to the global market.

After reaching all-time highs in the previous session, technology and semiconductor stocks faced sharp selloffs, with major players like Intel and Micron dropping significantly. The pullback reflects a cooling of the recent artificial intelligence boom as investors recalibrate risk amidst rising yields and macro uncertainty.

The yield on the benchmark 10-year Treasury note rose toward 4.5% after a poor auction indicated softening demand for U.S. government debt. This upward movement in yields has placed additional strain on interest-rate-sensitive sectors and further depressed growth-oriented equities.