Cerebras Systems Inc shares dropped 13.01% to $219.21 on Tuesday as semiconductor stocks sold off broadly amid a rise in oil prices and U.S. bond yields that revived inflation concerns. Brent crude moved above $91 a barrel, WTI climbed to $84.85 and natural gas prices also edged higher after Trump refused to extend Iran's temporary ceasefire and Tehran signaled a more aggressive military posture, raising concerns about shipping through the Strait of Hormuz. Higher energy costs can keep inflation elevated and reduce the Federal Reserve's room to cut rates, a backdrop that weighed on growth stocks as the 10-year Treasury yield rose to 4.74% and the two-year yield reached 4.19%. The sector also faced pressure after South Korea's government denied a report that SK hynix Inc was negotiating a semiconductor project tied to the country's $350 billion U.S. spending pledge. Despite the selloff, Cerebras remained about 2.1% above its 20-day moving average of $216.53 and roughly 5.3% above its 50-day moving average of $209.88, while its relative strength index stood at 51.11, a neutral reading. Traders were watching resistance at $228.50 and support at $196.50.