Anthropic seeks an approximately $1.3 trillion valuation in its initial public offering. The AI company plans to sell 825 million shares.

U.S. manufacturing data from the Institute for Supply Management came in weaker than expected, easing inflation concerns and pulling the 10-year Treasury yield down to 4.47%. Gold rebounded 1.1% to $4,082.40 per ounce as yields retreated. Expectations that the U.S.-Iran war could ease and the Strait of Hormuz could reopen weighed on oil, sending Brent down 1.9% to $71.57 a barrel. AI chipmakers including Nvidia and Micron fell in a move described as a technical pullback rather than a new fundamental catalyst.