Chipmakers lead a market rally as AI-driven demand offsets fading fears of an Iran-related oil supply shock.
Global stocks climbed as semiconductor shares surged and crude oil prices retreated, easing concerns over potential disruptions from Iran. The rally in chipmakers was fueled by renewed optimism in artificial intelligence demand, providing a separate boost to markets.
Oil prices stabilized after initial spikes following geopolitical tensions in the Middle East, with traders dialing back worst-case scenarios. Meanwhile, semiconductor stocks extended gains, supported by strong earnings expectations and sustained AI adoption.
The dual relief in tech and energy sectors helped equities recover from earlier losses, though broader market sentiment remained cautious amid ongoing macroeconomic uncertainties.