Finance

The aggressive rally in AI-related stocks experienced a sharp reversal, with the PHLX Semiconductor Sector index dropping nearly 2%. Major industry players like Broadcom and Micron Technology saw significant declines as investors reassessed capital expenditure durability and potential returns on investment within the high-beta technology sector.

Brent crude oil prices climbed toward $91 per barrel as renewed conflict in the Middle East threatened global supply chains and crucial shipping routes. Simultaneously, domestic energy inventories are tightening due to increased refining activity and strategic releases from national reserves, adding to inflationary concerns ahead of key economic data.

The yield on the 10-year U.S. Treasury note rose to approximately 4.54% on June 10, reflecting market expectations that the Federal Reserve may maintain higher interest rates for longer. This upward movement is driven by sticky inflation signals and recent labor market strength, which have tempered hopes for near-term rate cuts.