Finance

Chipmakers experienced heavy selling pressure, dragging down popular sector funds like the iShares Semiconductor ETF. Investors are increasingly cautious over massive artificial intelligence data center expenditures by dominant tech corporations, as well as rising competition from manufacturers in China. The persistent downturn briefly pushed the high-profile Nasdaq-100 index into correction territory before afternoon software stock buying helped trim losses.

Crude oil benchmarks declined significantly, with West Texas Intermediate dipping toward $81 per barrel and Brent crude falling to around $84 per barrel. The drop in energy costs comes amid a temporary pause in direct military strikes and reports of active diplomatic negotiations regarding the secure movement of commercial vessels through the Strait of Hormuz. This retreat in energy costs also alleviated broader pressures on fixed-income yields.

Digital assets pulled back sharply, with Bitcoin tumbling to around $63,400 to mark an eleven-day low, while Ethereum declined past the $1,880 threshold. The downturn reflects increased market anxiety as the Federal Reserve initiates its two-day policy-setting meeting, which remains highly unpredictable to analysts contemplating the chance of an unexpected rate adjustment. Additionally, crypto market sentiment softened due to legislative delays in the United States Senate concerning digital asset structural regulations.