Finance

Technology and semiconductor shares led the market lower on Tuesday, pulling back after setting fresh records earlier in the week. Major players such as Micron Technology, Intel, and Qualcomm saw significant declines, with the tech-heavy Nasdaq Composite falling approximately 0.7% as investors locked in profits amid broader economic uncertainty.

Crude oil futures jumped more than 4% on Tuesday, with West Texas Intermediate climbing back above the $100 per barrel mark. This price spike is largely attributed to escalating concerns regarding a potential breakdown in the U.S.-Iran ceasefire, which has threatened global supply stability through the Strait of Hormuz.

Cryptocurrencies faced downward pressure as the broader market reacted to the surprise inflation data, with Bitcoin sliding over 1% to trade near the $80,000 level. Ethereum also recorded losses of roughly 3%, as digital assets faced increased volatility linked to shifting risk sentiment and rising U.S. Treasury yields.