OpenAI IPO delay chatter rattles tech stocks as markets swing
US stocks were volatile on Friday as a New York Times report that OpenAI may delay its mega-IPO weighed on tech shares, leaving the Nasdaq near flat while the Dow and S&P 500 edged higher around 0.1%. Memory-chip cost pressures and Apple's price hikes signaled ongoing device-maker headwinds, with Micron’s earnings hinting the squeeze could persist. The OpenAI delay chatter, coupled with stronger May PCE inflation data, kept rate-hike bets alive, while oil slid about 3% amid Strait of Hormuz tensions.
