The worst week for big technology stocks since the COVID crash in 2020 dragged Wall Street across the finish line of another losing week.
The S&P 500 fell 0.9% Friday to close out its third straight losing week. The Nasdaq composite tumbled 2%. The Dow Jones Industrial Average, which has less of an emphasis on tech, was an outlier and rose 0.6%.
The market’s worst performers included several stocks that had been its biggest stars. Super Micro Computer lost more than a fifth of its value. Nvidia was the single heaviest weight on the S&P 500.
On Friday:
The S&P 500 fell 43.89 points, or 0.9%, to 4,967.23.
The Dow Jones Industrial Average rose 211.02 points, or 0.6%, to 37,986.40.
The Nasdaq composite fell 319.49 points, or 2%, to 15,282.01.
The Russell 2000 index of smaller companies rose 4.70 points, or 0.2%, to 1,947.66.
For the week:
The S&P 500 is down 156.18 points, or 3%.
Jimmy Carr sparks speculation he may have become a father for the second time
Xi Extends Condolences to Putin over Deadly Moscow Concert Hall Terror Attack
Xi sends congratulatory message to 37th AU Summit
Book of Xi's Discourses on Financial Work Published
Debate over tight end value hovers over Brock Bowers' draft prospects
Gulf countries slam Washington stand
China Focus: Netflix's adaptation of Three
Xinhua Headlines: Chinese, Nauruan Presidents Hold Talks for 1st Time Since Resuming Ties
Verstappen takes pole for Chinese GP to extend F1 dominance. Hamilton 18th
China brings opportunities rather than risks to world, expert says
Stars waited late to find out they get playoff rematch against the defending Stanley Cup champions
China brings opportunities rather than risks to world, expert says