Finance

Chipmakers faced significant downward pressure, with companies like Micron Technology, Advanced Micro Devices, and Broadcom logging noticeable midday declines. The broader chip sector weakness comes as investors await highly anticipated quarterly results from industry leader Nvidia and respond to reports of future price hikes on systems containing artificial intelligence chips.

Long-term U.S. government bond yields pulled back slightly today, with the 10-year Treasury note yield dipping toward 4.70%. The move lower followed reports that the Treasury may utilize its General Account to fund upcoming buyback operations, offering a brief reprieve to fixed-income markets after weeks of intensifying upward yield pressure.

Precious metals surged today as gold futures advanced over 1% to trade above $4,700 an ounce, registering their highest levels since mid-May. Investors are increasingly seeking safe-haven assets due to a combination of persistent trade friction, escalating Middle East geopolitical risks, and upcoming monetary policy updates.