News Summary

• Treasury yields fell across the curve as bond prices rose.
• AI-related stocks – including chipmakers, cloud computing firms and AI infrastructure companies – fell for a second consecutive session.
• The selloff followed recent record highs and was attributed by analysts to valuation concerns, profit-taking and uncertainty over interest rates.
• The rotation comes as the S&P 500 sits just below a fresh all-time high, yet 59% of the companies in the index are down more than 20% from their highs.