Finance

Chipmakers including Micron, Sandisk, and Intel experienced significant losses, with some shares falling nearly 10% following a rout in South Korean tech giants. Market participants are showing increased caution regarding the sustainability of the artificial intelligence infrastructure rally as they await Micron's quarterly results scheduled for Wednesday.

The Department of Energy announced a conditional $17.5 billion loan commitment aimed at rebuilding the domestic commercial nuclear supply chain and accelerating the deployment of ten large-scale reactors. This initiative is designed to drive down component costs and shorten construction timelines by up to three years, marking a significant federal investment in the nation's energy infrastructure.

U.S. Treasury yields retreated from recent 16-month highs as oil prices fell below $77 a barrel following progress in peace negotiations between the U.S. and Iran. While the Federal Reserve has adopted a more hawkish tone under new leadership, the temporary waiver of sanctions on Iranian oil has eased immediate inflation concerns and provided a slight reprieve for bond markets.