Finance

Semiconductor and hardware stocks faced significant pressure to end the week, with major players like Applied Materials, Broadcom, and Intel closing notably lower. High expectations and investor profit-taking overshadowed an upbeat corporate forecast, highlighting temporary valuation nervousness in the technology sector.

U.S. retail sales experienced an unexpected decline in July, dropping 0.6% after expanding the previous month. This deceleration, coupled with weaker consumer confidence and softening inflation, reinforces market expectations that the Federal Reserve will hold interest rates steady rather than implement hikes.

Digital assets edged lower on Friday, with Bitcoin slipping below the $63,000 threshold and altcoins facing steady downward pressure. The market pullback was intensified after the Securities and Exchange Commission canceled a highly anticipated regulatory meeting regarding alternative fundraising rules, dampening near-term legislative optimism.