Finance

Energy markets experienced a dramatic sell-off after the United States and Iran announced a mutual pause in military strikes to give diplomatic efforts room to breathe. Benchmark Brent crude plummeted roughly 6% to 8% to slide below the $90 per barrel threshold, completely erasing the upward spike to $102 seen last week. The sharp de-escalation of conflict in the Middle East has temporarily quieted immediate inflation fears.

Precious metals found robust support as retreating crude oil prices shifted the macroeconomic interest rate outlook. Spot gold jumped above $4,100 per troy ounce as a softer U.S. dollar and easing geopolitical tensions provided near-term momentum. Investors are increasingly viewing the metal favorably ahead of crucial monetary policy guidance from the Federal Reserve later in the week.

The tech sector underperformed on Monday, driven down significantly by steep losses among top-tier chip manufacturers. Artificial intelligence leader Nvidia shed 5% of its value, while Advanced Micro Devices fell over 5% following global market developments and reports regarding domestic Chinese semiconductor supply advancements. This widespread chip retreat ultimately kept the Nasdaq in negative territory despite late-day pushes in other sectors.