AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
SoftBank and Intel Partner to Develop Next-Generation Memory Chips for AI Data Centers 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Bitcoin Hits $100K Milestone Amid Optimism Over Trump Policies 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Insignia Financial Shares Hit 3-Year High Amid Bain and CC Capital Bidding War 
SpaceX Updates Starlink Privacy Policy to Allow AI Training as xAI Merger Talks and IPO Loom 
Nvidia Confirms Major OpenAI Investment Amid AI Funding Race 
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound 
Elliott Investment Management Takes Significant Stake in BP to Push for Value Growth 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
U.S. markets tumbled Friday as tech stocks led the selloff, with Apple, Tesla, and NVIDIA sliding amid a Treasury yield surge to 4.64%, sparking fears of inflation and higher borrowing costs.
Tech Stocks Lead Market Declines Amid Treasury Yield Surge
On Friday, U.S. stocks experienced a significant decline, with technology stocks leading the selloff. This decline was fueled by an increase in Treasury yields, Investing.com reports.
The NASDAQ Composite and the S&P 500 both had a 1.5–2% decline at 12:59 p.m. ET (17:59 GMT). A decline of 491 points, or 1.1%, occurred in the Dow Jones Industrial Average.
Apple Inc. experienced a decline of roughly 2%, only one day after reaching a new all-time high after receiving an upgrade from the tech-bull Wedbush on Thursday.
Apple, Tesla, and NVIDIA Stocks Decline
Tesla Inc. shares experienced a decline of 4.6%, while the stock of market darling NVIDIA Corporation experienced a slight decline of 2.9%.
During a significant downturn in the technology industry, Alphabet experienced a decline of more than 2%.
Treasury Yields Reach Multi-Month Highs
As a result of rising inflation fears and anticipation for a more hawkish Federal Reserve in 2025, the benchmark 10-year Treasury yield jumped to 4.64% earlier, its highest level since early May, sending tech prices down.
"The rise in long-term yields mostly reflects a stronger growth outlook but could also signal concerns about inflation and the federal budget deficit," DA Davidson said in a recent publication.
Higher Borrowing Costs Constrain Investments
When yields rise, borrowing costs rise as well. This can limit investments in R&D and growth, which in turn reduces profit margins.
As Bitcoin relinquishes its gains, Microstrategy drives crypto equities lower. Coinbase Global Inc. and other crypto-related stocks plummeted, with MicroStrategy Incorporated falling more than 3% after losing early-day gains.
Following Bitcoin's (BitfinexUSD) challenges to its gains after surpassing $97,000, the market experienced a fall afterward.
