News Summary

• Nasdaq-100 pared losses to a 0.5% decline, as gains in Big Tech stocks offset a sell-off in chip stocks.
• Dow, S&P 500, Nasdaq close off session lows as oil gains ease, chip stocks fall.
• 10-year Treasury yield briefly breached the 5% threshold for the first time since 2023.
• BofA stock falls over 5% on weaker dealmaking, trading fee forecasts.
• The major averages ended well off their session lows on Monday after warnings from AI developer leaders sent chip stocks lower.