Finance

Brent crude futures pulled back by nearly 4% to settle around $96.78 a barrel, offering some relief to broader inflation and market concerns. The downward price action followed reports that Pakistan and Iran are looking into a path toward diplomatic discussions with the United States, utilizing China as an initial facilitator. The retraction in oil helped stabilize government bond markets, with the 10-year Treasury yield easing slightly to 4.678%.

Investor skepticism over massive spending on artificial intelligence without immediate, clear revenue streams triggered a notable downturn in major semiconductor equities. Intel shares fell nearly 8% despite delivering strong earnings, while SanDisk and Micron Technology plummeted roughly 11% and 7% respectively. This broad chip selloff pulled the tech-heavy Nasdaq down for its second consecutive weekly loss.

Bitcoin recently touched a two-week high near $65,500, supported by five consecutive days of inflows into U.S. spot Bitcoin ETFs totaling more than $600 million. However, broader cryptocurrency market confidence remains constrained, with the Crypto Fear and Greed Index lingering in the "fear" zone at 34 points. Broader macroeconomic headwinds, including competitive capital rotation into AI-related equities and geopolitical tensions, continue to prevent a sustained bullish breakout.