U.S. 10-year government bond yields briefly surpassed 5% for the first time since 2023, driven by inflation concerns. Meanwhile, ongoing worries about the pace of AI development led to a decline in U.S. equities, with the Nasdaq 100 falling 0.8% and the Philadelphia Semiconductor Index dropping 5.9%. NVIDIA and Intel shares decreased by 3.4% and 5.6% respectively. Consequently, stock index futures in Japan, South Korea, and Australia all pointed lower, signaling a downturn for Asian markets.