Finance

Crude oil futures climbed significantly following a breakdown in negotiations and the expiration of a critical ceasefire memorandum between the United States and Iran. International benchmark Brent crude jumped more than 2% to edge above $90 a barrel amid reports of heightened navigation control and vessel detentions in the Strait of Hormuz. Investors remain highly concerned that sustained energy disruptions will fuel global inflationary pressures.

U.S. government bond yields extended their upward momentum, with the 30-year Treasury yield closing above 5.3% to notch its highest level since June 2007. Concurrently, the 10-year Treasury yield edged higher to top 4.7%. The surge in fixed-income yields reflects a combination of growing domestic fiscal worries and massive corporate debt issuance related to artificial intelligence infrastructure.

Chipmakers outperformed the broader market decline on Monday, providing a critical bright spot for technology equities. Positive growth projections and massive sales growth from leading artificial intelligence institutions like Anthropic helped fuel a rally across the sector. Major players including Intel, Micron Technology, and the broader PHLX Semiconductor Index recorded notable advances, leaving recent bear market territory behind.