Finance

The fixed-income market experienced shifting dynamics as short-term yields pushed higher after the Federal Reserve's hawkish policy framework was outlined. Concurrently, a stronger U.S. dollar put heavy pressure on commodities. Spot gold fell more than 3%, while silver plummeted over 4% to cap off the trading session.

Semiconductor stocks ran into turbulence as investors scrutinized lofty valuations and future monetization timelines for artificial intelligence infrastructure. Marvell Technology tumbled approximately 10% due to concerns over the timing of revenue from its AI chip deal with Alphabet, despite exceeding quarterly estimates and lifting guidance. AI bellwether Nvidia similarly retraced, sliding 4.6% as high expectations met macro borrowing fears.

Shares of the payment platform giant plummeted 13% during the Friday session. The aggressive selloff was triggered by news that investment firm Advent International and fintech company Stripe decided to walk away from a massive proposed $50 billion acquisition of the company.