Intel and AMD shares slide as oil prices and Treasury yields surge

Intel and AMD shares fell sharply Monday as rising oil prices and Treasury yields pressured broader markets, with chip and AI-related stocks hit hardest. Intel dropped over 6% while AMD fell more than 5%. Brent crude rose over 3% to $108 per barrel and the 10-year Treasury yield traded above 5.2% after President Donald Trump rejected Iran's proposed ceasefire terms. Higher oil prices fuel inflation concerns, while rising yields increase discount rates on future tech earnings. The Philadelphia Semiconductor Index declined 3%. The decline also followed profit-taking after a recent rally driven by optimism over Meta's Muse AI technology, which analysts say could boost server CPU demand. Intel and AMD shares had risen about 30% over the past month, and BofA raised AMD's price target to $720.