Finance

Semiconductor manufacturers faced substantial downward pressure as investors questioned the profitability of immense capital expenditures on artificial intelligence. The decline deepened following massive tumbles for South Korean memory giants and reports of heightened tech competition from China, impacting prominent U.S. chipmakers like Nvidia and Micron.

Global crude oil benchmarks fell significantly after the United States and Iran paused active military strikes to engage in diplomatic talks. Brent crude fell back below the $85-per-barrel threshold, offering a reprieve to investors concerned about energy-driven inflation.

Wall Street is bracing for a highly unpredictable interest rate decision from the central bank. Market participants remain anxious as underlying macro conditions leave policymakers divided over whether to enact another rate hike or maintain steady borrowing costs.