Intel and AMD shares slide as oil and Treasury yields spike

Intel- and AMD-shares fell sharply on Monday as rising oil prices and Treasury yields pressured broader markets, with chip and AI-related stocks hit hardest by the selloff. Intel dropped over 6%, while AMD fell more than 5%. Brent crude traded over 3% higher at $108 per barrel, and the 10-year U.S. Treasury yield exceeded 5.2%, near multi-year highs. Higher oil prices stoke inflation concerns, while rising bond yields increase discount rates on future tech earnings. The declines also followed a recent surge tied to optimism over Meta's Muse AI platform. Intel had risen from about $89 in early September to over $123 by September 25, leaving shares overbought and vulnerable to profit-taking. Despite Monday's drop, both stocks remain up roughly 30% over the past month on hopes that Muse will boost demand for server CPUs.