US markets face volatility as 10-year Treasury yield hits 5% and semiconductor stocks drop

US stocks declined on Monday as the 10-year Treasury yield briefly surpassed 5% for the first time since 2023, fueling expectations for a 25 basis point rate hike by the Federal Reserve. The Philadelphia Semiconductor Index fell nearly 6% following calls for an AI slowdown, while software and cybersecurity sectors saw gains. Geopolitical tensions in the Middle East caused oil prices to spike, though they later eased on reports of potential negotiations. Bitcoin held above $78,000 despite broader market pressure.