Oracle (ORCL.N) fell 6.1%, its largest intraday decline since Sept. 1.

Payden & Rygel said rising oil prices were one driver of last week's increase in US Treasury yields. The firm added that unusually resilient US growth and sustained AI-related capital expenditure by mega-cap firms also supported yields. Payden & Rygel expects total tech spending to exceed $800bn in 2026 and noted investor skepticism over the sustainability of capex-driven growth, but said similar doubts have been raised for three consecutive years.

Japan July final inventories MoM +0.5%, prior +0.5%.