Finance

U.S. equities pulled back slightly on Friday following hawkish commentary from the Federal Reserve, with the Nasdaq Composite leading the daily decline by dropping 0.52%. However, all three major benchmarks managed to close out the week in positive territory, securing weekly advances of roughly 0.5% for the Dow Jones Industrial Average and S&P 500.

Although semiconductor powerhouse Nvidia posted a blowout revenue forecast that initially drove a strong market surge, the momentum failed to lift the wider semiconductor landscape. Underperforming chipmakers like Marvell Technology pulled the broader sector down, causing the VanEck Semiconductor ETF to log a weekly loss.

Spot gold prices plunged over 3% to settle near $4,454 per ounce after monetary policy forecasts turned increasingly hawkish. The precious metal faced intense pressure as the U.S. dollar notched its largest single-day gain in two and a half months and short-term Treasury yields advanced sharply.