Finance

Investor anxiety regarding the high costs of artificial intelligence infrastructure and data center construction led to a sharp retreat in chipmaker stocks. Industry leader Micron Technology saw its shares tumble over 13%, following similar steep declines in Asian semiconductor giants Samsung and SK Hynix.

U.S. Treasury yields moved higher as markets reacted to the possibility of further Federal Reserve interest rate hikes later this year. Inflation concerns remain at the forefront, with May consumer price data expected to show a rise to 4.1%, keeping upward pressure on the 10-year Treasury yield, which recently reached approximately 4.5%.

Digital assets faced a general lack of upward momentum, with Bitcoin sliding approximately 1.5% to settle near $62,890. Other major tokens including Ethereum and Solana also saw declines, reflecting a cautious sentiment that has left most major cryptocurrencies trading below their 2026 opening prices.