Finance

Crude oil futures climbed significantly following the expiration of the U.S.-Iran ceasefire agreement and stalled diplomatic negotiations. International benchmark Brent crude crossed the $90 per barrel threshold after gaining over 2%. The sudden commodity surge has renewed global supply worries and reignited broader market fears regarding sticky inflation.

The bond market faced a heavy selloff, forcing longer-dated U.S. Treasury yields upward alongside mounting energy costs and national debt anxieties. Notably, the 30-year Treasury yield surged to 5.31%, marking its highest closing level since June 2007. Concurrently, the 10-year Treasury yield ticked up to approximately 4.73%, further tightening consumer lending conditions.

While most sectors ended the session deep in the red—led by notable losses in communications and major software firms—semiconductor and artificial intelligence hardware stocks bucked the downward trend. Chipmakers rallied by roughly 2% as investor interest continued to flow into select hardware assets. Pockets of strength were highlighted by gains in individual equities like SanDisk, which climbed 9%.