Finance

While the broader market showed resilience, the Nasdaq saw volatility due to a significant sell-off in semiconductor and AI infrastructure stocks. Concerns over soaring memory chip costs and potential peaks in AI capital spending have pressured hardware manufacturers, even as some software and cloud-focused companies like Meta reported strategic expansions.

The 10-year U.S. Treasury yield held near 4.47% after volatile fluctuations triggered by Federal Reserve Chairman Kevin Warsh’s comments on softening inflation risks. Traders are currently pricing in a high probability that interest rates will remain steady at the July meeting, though a September hike remains a possibility if energy prices fluctuate.

Bitcoin climbed back above the $62,000 mark following the release of soft U.S. employment figures, which weakened the dollar and bolstered digital assets. Despite this short-term rebound, institutional demand remains inconsistent, with analysts noting that Bitcoin has recently underperformed compared to record-breaking equity indexes due to capital diversion into artificial intelligence.