US semiconductor equities decline on valuation concerns

The US and Iran have engaged in reciprocal strikes against critical infrastructure following the collapse of a de-escalation memorandum. US strikes are reported against transportation infrastructure in Iran's Hormozgan province, while Iran has reportedly launched ballistic missiles from multiple domestic sites and drone attacks against Gulf nations. The operational intent and full scope of these actions remain unconfirmed by independent sources, indicating a significant, yet unverified, escalation of hostilities.