Finance

Marvell Technology shares skyrocketed over 30% following comments from Nvidia's CEO suggesting the firm could become the next trillion-dollar company. This rally, supported by a nearly 6% jump in the Philadelphia Semiconductor Index, helped offset a 4% decline in Alphabet shares caused by a massive stock-sale plan.

The cryptocurrency market faced a significant selloff, with Bitcoin dropping more than 5% to fall below the $68,000 level for the first time since April. Analysts noted that the decline followed a rare token sale by a major institutional holder and persistent outflows from spot ETFs, as capital migrates toward high-performing technology sectors.

The 10-year Treasury yield hovered around 4.45% as investors balanced positive labor market data against the impact of ongoing international conflicts. Oil prices remained volatile, with Brent crude rising over 4% following reports of stalled negotiations between the U.S. and Iran, which further stoked inflation concerns.