Finance

Chipmakers are experiencing downward momentum with major firms like Micron Technology, Advanced Micro Devices, and Sandisk seeing their shares slide. Investors are exhibiting caution and anxiety ahead of Nvidia's highly anticipated quarterly financial results scheduled for later this week.

Market sentiment is contending with a combination of new macroeconomic frictions, including impending U.S. economic sanctions against Iran. Additionally, failed trade negotiations have prompted Canada to threaten retaliatory tariffs on American goods, leading to warnings of further trade escalations.

Long-term U.S. government bond yields moved lower following reports that the Treasury may utilize its general account to finance an increase in bond buyback operations. This development helped pull the 10-year Treasury yield down to the 4.70% mark, offering minor relief to the broader markets.