Chip stocks slide as oil rises and Treasury yields stay elevated

US stocks fell in the first minutes of Monday trading as rising oil prices and elevated Treasury yields added to pressure ahead of the Federal Reserve’s meeting this week, Yahoo Finance reported.

Crude oil rose to about US$109 a barrel, while diesel prices remained above US$6 a gallon. The 10-year Treasury yield was a few basis points below 5%, and the two-year yield stood at 4.64%, according to the report.

Technology stocks declined more than 2%, with Nvidia leading losses across the semiconductor sector. AMD, Sandisk and Nebius Group were among the other stocks attracting attention from Yahoo Finance readers.

Polymarket pricing put the probability of a Federal Reserve rate rise on Wednesday at 80%. That figure reflects market betting rather than an official central bank forecast.

The technology sell-off came amid recent warnings from Anthropic and OpenAI about the risks posed by artificial intelligence. The report cited those warnings as a possible contributor to weakness in AI-related shares, but did not establish them as the cause of the broader decline.

Earlier reporting said CoreWeave shares fell nearly 7% in pre-market trading. Analysts said slower AI development could weaken demand for AI training and expose the company’s contracted rural power capacity, while its debt-heavy balance sheet could add to the risks.