US stocks were volatile on Friday, with the tech-heavy Nasdaq Composite down 0.2% and the S&P 500 falling slightly, closing out the week with losses of more than 4% and nearly 2%, respectively, while the Dow Jones Industrial Average notched a weekly win of less than 1%. Semiconductor stocks retreated after a report that OpenAI is considering pushing back its mega-IPO until 2027, adding to headwinds from concerns that rising memory and storage component costs could hit device makers after Apple raised prices of its MacBooks and iPads. A hot May reading of the Fed's preferred inflation gauge, the Personal Consumption Expenditures index, kept the prospect of a Federal Reserve interest-rate hike alive. Meanwhile, oil prices slumped as tanker traffic continued in the Strait of Hormuz despite an attack on a container ship; Brent crude futures sank to about $72 a barrel, and WTI crude traded near $69, as the US and Iran agreed on a 60-day ceasefire.