US equities declined as semiconductor shares dropped, pressuring the Nasdaq amid reports OpenAI may delay its IPO until 2027.
US stock indexes closed lower as a sell-off in heavyweight chip producers weighed on the Nasdaq. AI and memory stocks led declines, with semiconductor shares broadly weaker following reports OpenAI is considering pushing its IPO to 2027.
The S&P 500 and Nasdaq posted weekly losses, reflecting broader market weakness. Semiconductor stocks, a key driver of recent gains, faced pressure as investors reassessed valuations in the sector.
Separately, central bank actions diverged globally, with the People’s Bank of China holding rates at record lows while the Bank of Japan signaled further incremental hikes.