Finance

Major technology indexes plummeted on Friday, led by a sharp sell-off in the semiconductor sector. Industry leaders such as Nvidia and Broadcom faced heavy losses, with the latter's disappointing outlook for AI-related demand weighing on broader market sentiment and ending a lengthy winning streak for the S&P 500.

Bond yields jumped following the robust employment data, with the 10-year Treasury note rising to approximately 4.54%. Investors are now pricing in a much higher probability of a 25-basis-point rate hike this year as persistent inflation and strong economic demand complicate the Fed's policy path.

The cryptocurrency market faced significant pressure this week, with Bitcoin falling briefly below $60,000 for the first time since late 2024. The 15% weekly decline was exacerbated by a lack of macro catalysts, sustained outflows from ETFs, and the first major sale of holdings by a leading corporate holder since 2022.