Finance

Chipmaker equities faced severe downward pressure on Friday, driving the iShares Semiconductor ETF down by roughly 4.5%. Memory and storage manufacturers led the decline, with Sandisk crashing 11% and Micron Technology dropping 7%, erasing gains achieved earlier in the week. Despite Intel reporting strong server CPU results, its own stock plummeted 7.9%, failing to revitalize the broader semiconductor industry alongside mixed reactions to Big Tech's artificial intelligence infrastructure guidance.

Brent crude futures fell roughly 4% to settle at $96.78 a barrel, retreating from a recent surge that briefly pushed prices past $102 a barrel due to escalating tensions in the Middle East. The commodity selloff was triggered by reports that Pakistan and Iran are exploring potential channels to resume peace negotiations with the United States. This sudden drop in energy prices helped alleviate immediate inflation anxieties, leading to a modest decline in government bond yields, with the 10-year Treasury note easing to 4.678%.

Digital assets experienced a partial recovery following mid-month volatility tied to geopolitical tensions and macroeconomic uncertainty. Bitcoin rebounded to trade near the $65,500 to $66,000 range, supported by a positive streak of net inflows into U.S. spot bitcoin exchange-traded funds that exceeded $600 million over multiple consecutive trading days. While long-term targets from major financial institutions remain optimistic, near-term investor sentiment is mixed due to sticky interest rates, a strong U.S. dollar, and capital competition from tech equities.