Finance

Chipmaker stocks experienced broad declines ahead of crucial quarterly financial reports due later in the week. Major industry players like Micron Technology, Broadcom, and Advanced Micro Devices slid amid growing caution over artificial intelligence spending and reports of potential pricing hikes.

The breakdown of trade talks between the United States and Canada over the weekend prompted warnings of a 50% tariff on Canadian automobiles, trucks, and parts starting in January. Shares of prominent automotive manufacturers, including Ford and Stellantis, finished lower as a result of the renewed trade war anxieties.

U.S. government bond yields edged down following reports that the Treasury Department may deploy its near $1 trillion General Account to bolster bond buyback operations. Despite the temporary relief in yields, analysts noted that fixed-income volatility remains high over long-term fiscal debt and inflation concerns.