Finance

Tech-heavy indexes suffered disproportionately during recent trading, with the Nasdaq Composite plunging over 1,100 points in a single session. Major semiconductor and AI-linked firms including Nvidia, Broadcom, and Micron saw sharp declines of up to 10% as rising interest rate fears dampened enthusiasm for high-valuation growth stocks.

U.S. government bond yields spiked across the curve as the hot labor market data fueled expectations for sustained high interest rates. The 2-year Treasury yield reached its highest level since February 2025, while the benchmark 10-year note yield climbed past 4.5% as investors adjusted their year-end rate cut forecasts.

Digital assets experienced significant volatility, with Bitcoin briefly dipping below the $60,000 threshold and recording one of its worst weekly percentage losses since late 2022. The broader crypto market saw widespread selling pressure, as over 80% of tracked tokens traded in the red amid cooling institutional appetite and record ETF outflows.