Finance

Global energy markets saw significant relief as Brent crude futures dropped nearly 4% to settle around $96.78 a barrel on Friday. The sudden decline was sparked by reports that Pakistan and Iran are looking to establish a pathway for new negotiations with the United States. This pullback follows a sharp 11% weekly escalation fueled by intensifying clashes in the Middle East that threatened key shipping corridors.

Chipmaker stocks experienced steep selloffs on Friday, weighing heavily on the broader technology sector. Sandisk plunged roughly 11% and Micron Technology sank about 7%, leading to a sharp 8.5% drop in the Roundhill Memory ETF. Intel also dropped nearly 8% in the session, enduring a severe decline despite reporting blowout quarterly revenues that initially looked promising for the AI market.

The digital asset landscape is currently displaying a neutral-to-weak dynamic, with Bitcoin hovering just below the $65,000 mark after briefly touching $66,700 earlier in the week. While spot U.S. Bitcoin ETFs put together a string of positive net inflows mid-month, a shift to late-week outflows of over $465 million stunted the recovery momentum. Analysts note that digital currencies continue to trade like high-beta liquidity assets, experiencing pressure from persistent macroeconomic factors, high interest rates, and localized geopolitical risks.