Finance

Wall Street finished slightly lower on Friday as investors digested the latest commentary on monetary policy. The Nasdaq Composite dropped 0.52%, the S&P 500 lost 0.25%, and the Dow Jones Industrial Average edged down minorly by 0.02%. Despite the daily retreat, all three major benchmarks successfully secured positive overall gains for the week, with the Nasdaq rising 0.85%.

Although a strong revenue forecast from Nvidia briefly boosted tech sentiment earlier in the week, the broader semiconductor sector faced downward pressure on Friday. Marvell Technology shares tumbled over 10% following its earnings report as investors questioned the timing of its artificial intelligence chip revenue with Google. The decline restricted the performance of tech heavyweights and dragged down the Nasdaq.

Bitcoin and Ethereum gave up their midweek gains and moved lower following the Federal Reserve's reinforced focus on controlling inflation. Bitcoin slipped back under the $80,000 threshold to settle near $77,413, reversing momentum after touching multi-month highs earlier in the week. The renewed threat of tighter U.S. monetary policy broadly pressured risk assets, shifting investor sentiment into a more cautious stance heading into September.