U.S. stock index futures are mixed on the day. Micron plunges nearly 10%, leading losses in the Nasdaq-100 which drops more than 4%, and TSMC’s ADR falls 3%.

U.S. and Iranian hostilities continue to escalate, driving oil prices to post the biggest single-month jump in history of 55%. Micron’s share price plunged nearly 10%, leading declines in the Philadelphia Semiconductor Index, which also fell more than 4%. The S&P 500 and the Dow moved in both directions. Taiwan’s memory-sector stocks also fell across the board: Nanya Technology was down 5.22% to NT$209, while Powerchip also dropped 5.34% to NT$55.

U.S. stocks and cryptocurrency price market statistics: Trump applies both soft and hard measures—Iran blocks the Strait of Hormuz as retaliation

Trump claimed Monday that the U.S. is holding negotiations with Iran and said the agreement has made major progress. However, he also warned that if Iran fails to reach a ceasefire agreement as soon as possible, and if the Strait of Hormuz does not restore passage immediately, U.S. forces will destroy Iran’s most important oil export hub—Khark Island—as well as oil wells and power plants.

Iran’s National Security Council also passed a bill today, planning to charge a transit fee to all ships that pass through the Strait of Hormuz. Oil tankers could face fees of up to 2 million U.S. dollars, and the transit fees must be paid in Iranian currency. The bill also bans passage by ships from the United States and Israel, as well as ships from countries that previously imposed unilateral sanctions on Iran, using control of the strait as leverage to pressure the U.S.

Oil prices surged 55% within the month, the biggest single-month increase in history

Global energy markets were severely hit by the war. U.S. West Texas Intermediate (WTI) crude oil futures rose 3.25% on Monday to $102.88 per barrel, the highest closing level since July 2022. Brent crude oil (BRENT) futures are currently at $112.78 per barrel; the cumulative gain for this month has already reached 55%, which will mark the biggest single-month increase in history.

U.S. stocks’ four major indexes fell three, rose one; the Philadelphia Fed Semiconductor Index tumbled more than 4%

Due to the escalation of geopolitical tensions, early trading on Wall Street on Monday showed a rally that was hard to sustain, and the final performance was mixed:

The Dow Jones Industrial Average inched up 49.50 points (0.11%), closing at 45,216.14.

The S&P 500 fell slightly by 25.13 points (-0.39%), closing at 6,343.72.

The Nasdaq Index dropped 153.72 points (-0.73%), closing at 20,794.64.

The Philadelphia Semiconductor Index plunged 315.33 points (-4.23%), closing at 7,142.33.

U.S. “Seven Giants” stocks showed divergent performance: Meta (META) jumped 2.03% as a standout; Amazon (AMZN) edged up 0.81%; Nvidia (NVDA) fell 1.4%; Apple (AAPL) fell 0.87%; Tesla (TSLA) fell 1.81%; and Alphabet (GOOGL) slipped 0.23%. Taiwan Semiconductor ADR also weakened in tandem, down 3.13%, closing at $316.5.

Micron plummeted nearly 10%, putting pressure on Taiwan’s memory stocks at the same time

The semiconductor sector became the hardest-hit area in this selloff. Memory maker Micron Technology (MU) shares fell 9.88% in a single day, and the stock has already dropped more than 30% since the standout earnings report released in mid-March.

The selloff spread quickly to Taiwan’s memory-sector stocks as well, with the group broadly closing lower. Nanya Technology (2408) plunged 5.22% to NT$209. Winbond (2337) slid 8.59% to NT$117, the biggest percentage decline among its peers. Powerchip (6770) also fell 5.34% to NT$55. Winbond? (2344) turned green against the trend, up 2.26%, as one of the few bright spots.

Powell holds steady; markets rule out rate cuts this year

Federal Reserve Chair Powell delivered a speech at Harvard University on Monday, clearly stating that the authorities currently face risks in both of their dual responsibilities—“maintaining price stability” and “achieving maximum employment”—and emphasizing that current monetary policy will remain on hold.

As a result, U.S. 10-year Treasury yields fell slightly by 9 basis points to 4.35%. According to CME Group’s FedWatch tool, the money markets have fully ruled out the possibility of the Fed cutting rates this year.

This article U.S. stock indexes mixed—Micron plunges nearly 10%, leads the decline in the Philadelphia index down more than 4%, Taiwan Semiconductor ADR down 3% first appeared on Lian News ABMedia.