Brent crude fell below $85 per barrel on Tuesday, joining a broad retreat in risk assets as Wall Street futures pointed to a weaker open.
The decline in energy prices coincided with renewed selling pressure in the technology sector, where global semiconductor stocks faced fresh headwinds amid mounting investor skepticism regarding the return on investment for billions of dollars in artificial intelligence infrastructure.
5%, signaling that the sell-off is particularly acute in growth-sensitive names.
The cross-asset weakness highlights a shift in market sentiment, with traders moving to secure profits following a historic run-up in valuations.
Nasdaq-100 futures dropped 0.9%, while Micron Technology shares declined 4.5%, signaling that the sell-off is particularly acute in growth-sensitive names.
This rotation away from high-multiple tech stocks has spilled over into commodities, dampening demand for oil as economic growth concerns briefly resurfaced.
The move extends a period of volatility that has characterized US equity markets in recent sessions.