Finance

The Nasdaq composite fell 0.8% as major technology and chip stocks continued to lose ground. High-profile semiconductor companies like Micron, Applied Materials, and Advanced Micro Devices saw sharp declines due to concerns that AI-driven valuations had outpaced actual profit growth. This downturn in tech overshadowed broader market gains where approximately two-thirds of stocks actually rose.

Bitcoin prices surged back above the $61,000 mark, reaching approximately $61,865 by mid-morning on July 2, 2026. The cryptocurrency's recovery was supported by remarks from Federal Reserve officials suggesting that inflation risks have eased. Additionally, institutional sentiment was bolstered by news of a significant $170 million BTC acquisition by Japanese investment firm MetaPlanet.

International benchmark Brent crude fell more than 1% to finish the week near $71.80 per barrel, its lowest level since before the conflict with Iran began in February. Prices were pressured downward by reports of positive progress in indirect U.S.-Iran negotiations held in Doha. Analysts note that increasing oil flows through the Strait of Hormuz are further easing global supply concerns.