Finance

Wall Street logged a volatile trading session on Friday, with the tech-heavy Nasdaq Composite declining 0.9% and the S&P 500 losing 0.4%. Conversely, the Dow Jones Industrial Average managed a modest 0.1% gain. Despite the late-week retreat driven by the technology sector, all three benchmarks posted positive results for the weekly period, breaking a multi-week losing streak.

U.S. government bond yields moved higher following the release of October's Producer Price Index data, which indicated that wholesale prices increased by 0.3% on a monthly basis. The benchmark 10-year Treasury yield hovered around 5.13%, reflecting broader market expectations that the Federal Reserve remains on track to implement an interest rate hike at its upcoming December meeting.

The cryptocurrency market experienced sharp declines, pushing Bitcoin below the significant $70,000 threshold to touch its lowest valuation since August. A broad risk-off sentiment triggered more than $1.3 billion in crypto futures liquidations over a 24-hour period. Market participants pointed to ongoing outflows from spot Bitcoin exchange-traded funds and stricter monetary policy expectations as compounding factors behind the digital asset's recent slide.