Finance

Chipmakers faced intense selling pressure at the end of the week, dragging down tech-focused indices. The iShares Semiconductor ETF dropped roughly 4.5%, led by steep double-digit declines in memory stocks like Sandisk. Even Intel saw its stock value decline despite reporting strong quarterly revenue that beat Wall Street expectations, underscoring broader capital expenditure anxieties in the artificial intelligence sector.

International oil benchmarks retreated sharply on reports of a potential temporary ceasefire and diplomatic progress between the United States and Iran. Brent crude futures dropped below $97 a barrel after previously surging past the $100 threshold earlier in the week due to conflict in the Red Sea. The sudden decline in energy prices helped alleviate immediate inflation anxieties, offering a breather to the broader equities market.

U.S. government bond yields edged lower as easing oil prices provided temporary relief from stagflation fears. The yield on the benchmark 10-year Treasury note pulled back to roughly 4.68% after recently touching its highest levels of the year. Investors are now anxiously looking forward to the upcoming Federal Reserve meeting, with interest-rate futures showing heightened uncertainty over the central bank's next policy move.