Finance

The market's focus has shifted toward Micron Technology's quarterly results, viewed as a definitive test for the broader semiconductor sector. After shares plummeted 13% in a single day, the company's performance is being scrutinized to determine if the intense demand for AI-related memory remains sustainable amid cooling investor sentiment.

Yields on the 10-year Treasury fell to approximately 4.41% as pressure eased following reports of progress in negotiations between the U.S. and Iran. Simultaneously, crude oil prices continued to slide toward four-month lows, providing a temporary reprieve for rate-sensitive sectors and general market stability.

Digital assets experienced broad declines with Bitcoin struggling to maintain support above the $62,500 level. Bearish sentiment in the crypto space has been exacerbated by a stronger U.S. dollar and fears of a potentially more hawkish Federal Reserve, leading some analysts to warn of a shift into a deeper downturn.