Finance

Commodity markets experienced a significant pullback as Brent crude prices dropped 3.8%, nearing levels seen before the conflict with Iran. This decline helped mitigate some inflation fears, though it also led to a sell-off in energy sector stocks, with gold prices similarly plunging toward the $4,000 per ounce threshold.

The 10-year Treasury yield held steady at approximately 4.50% as markets reacted to a more aggressive interest rate forecast for the remainder of 2026. Hawkish commentary from Federal Reserve leadership and updated analyst projections now suggest a high probability of multiple rate hikes to combat persistent inflation.

Chipmaker stocks have dominated recent market activity, with the industry posting triple-digit earnings growth but facing heavy sell-offs due to crowded positioning. Investors are closely monitoring results from key players like Micron Technology, which saw its shares surge in after-hours trading following a quarterly revenue beat that surpassed Wall Street expectations.