Finance

The 10-year Treasury yield surged to 4.6% while the 30-year yield surpassed 5.1%, levels not seen since 2007 for the longer maturity. These sharp increases were driven by a spike in WTI crude oil toward $105 per barrel and disappointing producer price data that showed inflation remains significantly above the central bank's target.

The cryptocurrency market faced a sharp sell-off as Bitcoin dropped below the critical $80,000 mark to trade near $77,600 by May 17, 2026. This decline led to nearly $700 million in liquidations of leveraged long positions, reflecting a broader shift toward risk aversion in the digital asset space amid global macroeconomic uncertainty.

High-flying technology stocks, particularly those tied to the artificial intelligence boom, saw significant pullbacks as market participants questioned if recent gains had outpaced fundamental valuations. Companies like Nvidia and Amazon lagged the broader market on Friday, while the semiconductor index faced pressure from rising borrowing costs and geopolitical tensions.