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Tech Stocks Slide as Bond Yields Spike and Crude Oil Surges on Iran Tensions

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The Story

News Summary

  • US equity indices retreated as soaring global bond yields hit tech and chipmakers hard.
  • WTI crude surged to three-week highs amid escalating US-Iran conflict and Strait of Hormuz disruptions, fueling inflation worries.
  • Meta and AMD dropped significantly on legal risks and sector-wide semiconductor weakness.
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