Finance

The U.S. stock market experienced a choppy trading session on Friday, with the Nasdaq Composite falling 0.9% and the S&P 500 slipping 0.4%, while the Dow Jones Industrial Average managed a modest 0.1% increase. Despite the late-week tech sell-off, all three major averages successfully snapped a multi-week losing streak to record positive cumulative gains for the week.

Treasury yields continued their upward trajectory, with the benchmark 10-year note climbing to 5.152% following the latest wholesale inflation reading. The hot macroeconomic data has driven market expectations toward a potential Federal Reserve interest rate hike in December, with traders pricing in an nearly 89% probability of an increase.

The cryptocurrency market suffered a steep contraction, pushing Bitcoin's price down past the $70,000 mark to lows not seen since August. The sudden downturn triggered more than $1.3 billion in leveraged long position liquidations, fueled by broader macro anxieties and persistent capital outflows from digital asset ETFs.