Finance

The tech-heavy Nasdaq Composite led market losses with a 2% drop as investors aggressively rotated out of previously high-flying artificial intelligence and semiconductor names. Industry leaders including Advanced Micro Devices and Broadcom saw notable declines, while software giant Oracle fell over 11% in extended trading following an announcement of a massive $20 billion capital raise to fund its AI infrastructure buildout.

U.S. Treasury yields remained relatively steady after May’s consumer price index showed annual inflation accelerating to 4.2%. While headline inflation met forecasts, a slightly lower-than-expected monthly core increase of 0.2% provided some relief to investors concerned about imminent Federal Reserve rate hikes. The 10-year note yield settled around 4.53% as demand for government debt remained resilient during recent auctions.

Bitcoin fell toward the $60,000 level during recent trading sessions, pressured by record ETF outflows and institutional de-risking linked to Middle East instability. Despite a brief late-day recovery back to $62,000, crypto-related stocks like Coinbase and MicroStrategy faced heavy losses. Meanwhile, the sector continues to evolve through the rapid expansion of tokenized real-world assets, which grew nearly 589% over the past year.