Finance

The yield on the 10-year U.S. Treasury note eased back down toward 5.24% after surging earlier in the session to an intraday high of 5.34%, a level not witnessed since April 2002. This extreme volatility in sovereign debt markets has intensified pressure on corporate sectors and banking institutions. Investors remain highly sensitive to these movements while closely mulling upcoming economic data, particularly the imminent September jobs report.

Tech shares showed resilience for a second consecutive day, spearheaded by a significant bounce in semiconductor names. Sector performance was supercharged by Micron Technology reporting blowout quarterly results, featuring a quadrupling of revenue driven by strong AI demand. Alphabet also contributed to the sector's momentum by pushing higher after rolling out its newest artificial intelligence model.

Crude benchmarks faced upward pressure as markets weighed fluid diplomatic developments and escalating tensions involving the U.S. and Iran in the Middle East. Brent crude futures briefly scaled the $100 per barrel threshold during volatile trading, while West Texas Intermediate held near $90. These elevated energy costs have renewed concerns over persistent factory-gate inflationary pressures, further fueling speculation about upcoming monetary policy adjustments.