Finance

E-commerce and cloud giant Amazon saw its shares jump approximately 15% following better-than-expected spring profits and robust demand for its artificial intelligence infrastructure. Conversely, Apple shares plunged around 7% after underdelivering on its revenue growth forecast, highlighting divergent trajectories among mega-cap tech companies.

Bond markets experienced substantial selling pressure, driving the benchmark 10-year Treasury yield to 4.73%, its highest level since early 2025. Concurrently, the 30-year Treasury bond yield surged to 5.25% as market participants adjusted to the Federal Reserve's lack of forward guidance and expressed doubts about the central bank's near-term ability to cool inflation.

Diverging from the late-week rally in equities, major digital assets experienced a broad downturn as Bitcoin slid underneath the $63,000 threshold and Ethereum dropped nearly 3%. The risk-off sentiment in crypto markets was compounded by institutional volatility-selling, prolonged delays in domestic legislation, and a sharp 10% drop in Coinbase stock following an earnings miss.