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US stocks climb as chip sector rebounds
The U.S. stock markets experienced gains as semiconductor stocks recovered after a sharp decline on Friday. The S&P 500 rose by 0.7%, the NASDAQ increased by 1.1%, and the Dow Jones added 135 points (0.3%). Micron Technology’s shares jumped over 9% after falling 13% on Friday, and shares of Intel and Broadcom also saw notable increases. Conversely, the NASDAQ had fallen 4.2% on Friday, while the iShares Semiconductor ETF dropped significantly by 10% before rebounding by 5% on Monday. This rally coincided with heightened geopolitical tensions in the region following Iranian attacks and rising oil prices in response to Israeli strikes, amid growing concerns over the stability of the ceasefire between Washington and Tehran.
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