Meta Platforms shares fell 3% in premarket trading after gaining nearly 13% last week, as AI-related stocks broadly sold off. Gold miner Newmont dropped more than 4% as gold prices declined 3%, weighed down by rising global bond yields with the 10-year U.S. Treasury yield crossing above 5.2%. U.S. oil prices surged more than 4% to above $96 per barrel, lifting energy stocks including Occidental Petroleum and ConocoPhillips up 2% each, and Exxon Mobil and Chevron up 1.5% each. Airlines including United Airlines and American Airlines fell more than 2% each as higher oil prices raised concerns about jet fuel costs. Nvidia rose 1.5% after announcing new AI safety software and a $150 billion increase to its stock buyback program, outperforming a broadly lower semiconductor sector where the iShares Semiconductor ETF fell almost 2%.
Source: Read the original article
