Finance

Semiconductor companies saw sharp declines following reports that OpenAI may postpone its initial public offering until next year due to market volatility. Sandisk shares plunged over 10% and Micron Technology fell 7%, while the broader chip sector struggled with concerns regarding the sustainability of future AI infrastructure spending.

International benchmark Brent crude oil dropped below $72 per barrel on Friday, reaching price levels not seen since before the conflict in Iran began. The decline follows negotiations for a ceasefire and the evacuation of ships from the Persian Gulf, though fresh geopolitical tensions late in the day caused a slight rebound in some futures contracts.

The yield on the 10-year Treasury note fell to approximately 4.37% after new data showed U.S. consumer inflation expectations for the coming year dipped slightly. Despite the easing yields, Federal Reserve officials have indicated that a further interest rate hike remains possible this year if underlying inflationary pressures from global conflicts persist.