Finance

Crude oil futures climbed significantly on Monday, with Brent crude nearing $80 per barrel. The price surge follows a declaration from Iran's Islamic Revolutionary Guard Corps that the strategically critical Strait of Hormuz would be closed until American military operations cease. While U.S. officials disputed claims of the waterway's closure, the geopolitical friction prompted energy producers like ExxonMobil and Chevron to log morning gains.

Technology stocks pulled back sharply on Monday as investors re-examined the continuous valuation expansions within the artificial intelligence trade. Major memory and chip companies experienced significant pre-market declines, prompting the Nasdaq Composite to lead the market's losses. Adding to the sector's volatility, SK Hynix saw its Seoul-traded shares plummet 15% on Monday following a highly oversubscribed Nasdaq debut for its American Depositary Receipts on Friday.

U.S. government bond yields climbed higher on Monday as the latest spike in oil prices forced investors to adjust for longer-term inflation risks. The rate-sensitive two-year Treasury yield rose to its highest level since early 2025, while the benchmark 10-year yield advanced to around 4.59%. This upward movement comes as fixed-income markets weigh the probability of additional Federal Reserve interest-rate hikes ahead of upcoming CPI data and congressional testimony.