Technology stocks led a broad market decline on Friday, with the S&P 500 and Nasdaq falling over 1%. Concerns over an AI bubble, fueled by Broadcom and Oracle’s warnings, coupled with rising Treasury yields, pressured investors. Anticipation of key labor and inflation data also contributed to market caution.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.