Global stock markets reversed course from recent record highs on the back of weakness in the semiconductor sector, according to Bloomberg Markets. The pullback reflects investor caution regarding chipmakers despite broader momentum in equities that had driven indices to new peaks.
The decline in technology stocks, particularly semiconductor companies, pressured major benchmarks as traders reassessed valuations in one of the market's strongest-performing sectors this year. This shift sent capital rotating into alternative assets seeking stability.
Meanwhile, gold strengthened during the session to reach its highest level since June, signaling renewed investor interest in safe-haven assets amid market volatility. The precious metal's advance underscores growing hedging demand as equity markets navigate recent uncertainty.