Finance

The semiconductor sector faced intense pressure after a 10% plunge in South Korea's Kospi index triggered a global tech retreat. U.S.-listed chipmakers were hit hard, with the PHLX Semiconductor Index falling nearly 8% as industry leaders like Micron and Nvidia saw significant losses amid concerns over AI infrastructure spending.

U.S. Treasury yields moved lower on Tuesday as investors sought the safety of government bonds during the equity market selloff. The 10-year Treasury yield declined to approximately 4.49% as lower oil prices and progress in international peace negotiations provided some relief to long-term inflation outlooks.

While growth sectors faltered, defensive areas of the market like consumer staples gained traction as investors rotated into more stable assets. The consumer staples sector rose nearly 1.7% during the session, led by notable jumps in shares of major food producers such as Conagra Brands and General Mills.