Nasdaq Composite Falls 2% as Tech Shares Face Pressure
The Nasdaq Composite was down 2% in afternoon trading, putting it on track for a weekly loss of more than 4%, its sharpest since June. Chip and AI-related shares came under pressure.
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06:20:00 PM UTC
SquawkNews
By Noel Randewich and Purvi AgarwalWall Street tumbled on Friday, with CoreWeave, Broadcom and other AI-related technology stocks under renewed pressure, while a jump in oil prices spooked traders heading into the weekend.The Nasdaq was on track for a loss of over 4% for the week, hammered by conce…
Technology stocks were on track to end a difficult week lower, with semiconductor and AI-related shares facing renewed pressure. The Nasdaq Composite was down 2% in afternoon trading. If sustained, that would put the tech-heavy index’s weekly decline at more than 4%, its steepest since June.