Finance

Brent crude futures tumbled nearly 4% to settle at $96.78 a barrel, retreating from a spike above $102 a barrel earlier in the week. The decline was fueled by reports that Pakistan and Iran are investigating potential pathways to resume peace negotiations with the United States following diplomatic mediation by China. The drop in energy costs helped alleviate immediate inflation anxieties, triggering a modest decline in government bond yields.

The technology sector faced sharp selling pressure, driven by mounting anxieties over extensive capital spending on artificial intelligence infrastructure and specific weak corporate responses. Memory chip producers experienced significant losses, with Sandisk and Micron Technology plummeting roughly 11% and 7% respectively, pulling the wider semiconductor ecosystem downward. Mega-cap tech giants were heavily affected, with the aggregate market valuation of the largest technology firms enduring substantial multi-billion dollar cuts over the week.

Digital assets remained under pressure with Bitcoin trading near the $65,000 threshold, while Ethereum and Solana hovered around $1,880 and $76 respectively. Though spot Bitcoin exchange-traded funds recently saw a brief multi-day streak of net inflows, market sentiment remains fragile due to geopolitical instability, rising Treasury yields, and low optimism for digital asset legislation. Additionally, new international sanctions targeting major crypto operators and financial infrastructures have introduced further headwinds to the asset class.