Finance

Despite reporting record second-quarter profits, Samsung Electronics sparked a global chip sector selloff due to investor concerns over future AI spending and memory demand. This weakness transitioned into the U.S. session, causing significant losses for major semiconductor players including Intel, which fell over 9%, and Micron Technology, which dropped roughly 6%.

Oil prices climbed on Tuesday following reports of missile attacks on commercial vessels in the Strait of Hormuz, threatening a fragile peace deal. Brent crude futures rose above $74 per barrel as the U.S. reinstated certain sanctions on Iranian oil, raising fears of supply disruptions in the critical maritime gateway.

The 10-year U.S. Treasury yield rose to 4.529%, marking its sixth consecutive day of increases and reaching its highest level since mid-June. Rising yields exerted additional pressure on equity markets as investors shifted their focus toward upcoming Federal Reserve minutes and a heavy schedule of government bond auctions.