Finance

The bond market witnessed a significant surge in yields as investor concern grew over prolonged high inflation. The benchmark 10-year Treasury note yield rose to 4.73%, reaching its highest level since early 2025. This upward movement followed statements from Federal Reserve Chairman Kevin Warsh, who reaffirmed his focus on lowering inflation but refrained from offering explicit forward guidance regarding interest rate cuts.

Apple stock dropped over 7.4% on Friday, eliminating roughly $358 billion in market capitalization and dragging down the broader S&P 500 technology sector. The sharp decline was fueled by a lukewarm revenue forecast as well as performance shortfalls in its Services division and Greater China revenue. The iPhone maker also issued warnings that ongoing supply constraints would likely restrict its near-term growth.

West Texas Intermediate crude futures hovered around $85 per barrel on Friday, capping a month where U.S. crude prices expanded significantly. This monthly upward movement was largely driven by a renewed escalation in military hostilities involving the U.S. and Iran. Oil transit through the critical Strait of Hormuz has stalled, adding substantial upward pressure to global energy costs.