Finance

Global energy markets experienced renewed volatility as Brent crude oil prices climbed back over $100 per barrel. The surge was triggered by Tehran's refusal to compromise on conditions for reopening the critical Strait of Hormuz, heightening fears of prolonged supply chain blockages and structural inflation.

U.S. government bond yields resumed their upward trajectory on Monday, with the 10-year Treasury note tracking near 19-year highs. Investors are increasingly adjusting to a higher-for-longer interest rate path as robust economic data and rising energy costs fuel expectations of a Federal Reserve rate hike in October.

Prominent technology indices and major chipmaker stocks pulled back sharply ahead of the market open. The sell-off was compounded by broader macroeconomic pressures alongside emerging industry safety concerns, leading to premarket losses across the Magnificent Seven companies.