Finance

Stocks linked to the artificial intelligence boom saw notable pullbacks as valuation worries and questions about near-term profitability reemerged. Semiconductor giants and computer memory manufacturers experienced sharp intraday declines, dragging down major equity indices.

Global government borrowing costs spiked, with the U.S. 30-year Treasury yield hitting levels not seen since 2007. Growing fiscal deficits, a heavy corporate appetite for capital, and sticky inflation worries are driving fixed-income yields upward and pressuring high-growth tech equities.

Crude oil benchmarks climbed significantly following stalled peace negotiations and a verbal escalation from the Trump administration regarding Iran. Security risks in the Strait of Hormuz, highlighted by a cargo ship incident, have compounded supply anxieties and driven Brent and West Texas Intermediate futures higher.