Finance

Chipmaker stocks are continuing to wobble as heavy investment spending in artificial intelligence faces scrutiny over long-term profitability. Furthermore, the latest financial results from South Korean supplier SK Hynix failed to meet elevated market expectations, contributing to a broader retreat across the tech sector.

The Federal Open Market Committee is expected to conclude its two-day session under Chairman Kevin Warsh, though analysts remain split over the decision. While a vast majority expect interest rates to hold steady, a hawkish policy bias and an absence of clear forward guidance have kept a minority expectation of an unexpected rate hike intact.

Crude oil benchmarks surged back upward following renewed drone and missile attacks in the Middle East, disrupting a temporary period of diplomatic optimism. This flare-up in energy costs has concurrently pushed up U.S. Treasury yields, as market participants brace for persistent, energy-driven inflationary pressures.