Finance

Semiconductor equities continued their steep multi-day decline, causing the tech-heavy Nasdaq Composite to edge lower despite a significant late-day rebound. Persistent anxieties over the steep operational costs of artificial intelligence developments and intensifying technological competition overseas triggered a severe global chip rout. Major components like Micron, Advanced Micro Devices, and Intel saw sharp losses, while international semiconductor indices in South Korea and Japan also plummeted.

West Texas Intermediate and international Brent crude futures dropped by over 4%, settling at multi-week lows. The sharp commodity price decline was fueled by reports that the United States and Iran have paused active conflicts and entered active diplomatic discussions. Market participants reacted to comments indicating an increased likelihood of a regional peace deal, bringing relief to energy logistics and broader inflation expectations.

Digital assets experienced a downward trend as both Bitcoin and Ethereum slid ahead of the Federal Reserve's policy meeting. Bitcoin fell into the $63,000 range, continuing a multi-month phase of price consolidation down from its previous record highs. Despite the drop and cooling demand among retail participants, large institutional holders and 'whales' have continued to accumulate tokens, cushioning the market from a deeper retracement.