Finance

Sovereign debt markets faced continued selling pressure, pushing long-term borrowing costs to levels not witnessed in nearly two decades. The 30-year U.S. Treasury yield pushed toward 5.3%, fueled by a combination of persistent fiscal deficits, heavy debt issuance, and mounting commodity-driven inflation risks.

The Philadelphia SE Semiconductor Index plummeted over 5% as market participants aggressively rotated out of major artificial intelligence hardware and memory manufacturers. Heavyweights like Micron, Intel, Sandisk, and Marvell Technology experienced steep losses amid rising concerns that capital expenditure on AI data infrastructure may underperform aggressive profitability projections.

Crude benchmarks stayed stubbornly high, with international Brent prices holding above $90 per barrel and domestic WTI crossing $84. Global supply vulnerabilities continue to trouble traders as friction between Washington and Tehran escalates and shipping protocols through the strategic Strait of Hormuz remain uncertain.