Finance

While growth-oriented technology shares struggled, investors shifted capital into defensive areas of the market. The healthcare sector emerged as a leader, rising nearly 8% on the week to reach a record level, while small-cap and value stocks also demonstrated relative resilience during the broader market downturn.

A significant liquidity event occurred on Friday as the Nasdaq Closing Cross handled a record $334 billion in trading volume. This surge, involving over 4.5 billion shares executed in under two seconds, was driven by the semi-annual reconstitution of the Russell 1000, 2000, and 3000 indexes.

Downward pressure on equities was partially offset by a decline in Brent crude prices to approximately $72.60 and a report showing lower consumer inflation expectations. These factors contributed to a 10-year Treasury yield decrease to 4.37%, though market participants remain wary of potential rate hikes later in the year.