Finance

Anxieties regarding the staggering costs of building out artificial intelligence infrastructure heavily weighed on hardware and semiconductor companies. Despite posting quarterly earnings that exceeded analyst projections, Intel shares dropped significantly after the chipmaker highlighted plans to expand its capital expenditures. This drop dragged down other memory and semiconductor names as investors demand a clearer path to near-term returns on immense tech outlays.

Crude oil futures retreated from recent highs, easing broader market anxieties about a resurgence in inflation. Brent crude dropped nearly 4% to settle below $97 a barrel following international reports that Pakistan and Iran are evaluating diplomatic options with the United States. This retreat cooled the recent energy rally sparked by heavy military conflicts in the Middle East that had threatened to disrupt global shipping channels.

Digital asset values softened toward the weekend as institutional investors pared back risk exposure amid macroeconomic uncertainties. Bitcoin spot ETFs experienced a sudden reversal, recording $225 million in net outflows after maintaining a strong weeklong streak of capital inflows. This shift occurred as higher Treasury yields and inflation concerns increased the opportunity cost of holding non-yielding crypto assets, pinning Bitcoin close to the $65,000 threshold.