Finance

Global technology equities slumped on Monday after leaders from major AI institutions advised slowing down the fast-paced development of the technology. This cautious sentiment triggered investor worries regarding the longevity of the massive infrastructure spending boom, driving a prominent semiconductor gauge down by roughly 5% and causing notable selloffs in tech giants like Nvidia and Broadcom.

The benchmark U.S. 10-year Treasury yield briefly crossed the psychologically critical 5% boundary today, matching an intraday peak not seen since late 2023. Growing expectations of long-term entrenched inflation, robust national data, and massive capital needs for modern technological infrastructure projects have continually driven global sovereign bond yields upward.

Crude oil benchmarks surged amid intensifying disruptions in the Middle East, which included significant pipeline infrastructure attacks in Saudi Arabia. Brent crude settled above $105 per barrel, intensifying concerns about broader inflationary impacts right before the U.S. central bank meets to decide on monetary policy.