🚨JUST IN: The Nasdaq 100 just posted its worst week in a year and a half, only 10 days after notching a record high.
The tech-heavy index fell 2.5% on Friday alone, closing at 29,187.55, and shed 5.5% on the week, its steepest weekly decline since the April 2025 tariff turmoil. The broader Nasdaq Composite wasn't far behind, dropping roughly 4.5% for the week, its worst showing since June.
The index now sits nearly 7% below its October 6 peak, and another drop of just over 3% would officially put it in correction territory.
Semiconductor stocks are leading the pain, the Philadelphia Semiconductor Index just logged its longest losing streak since 2006, as investors grow increasingly uneasy about the pace and financing of AI infrastructure spending. Memory chip names have been hit especially hard, with some individual names down more than 15-25% over just five trading days.
Adding fuel to the fire, the same week brought hotter-than-expected CPI and the biggest PPI jump since 2022, plus Brent crude touching $110 amid ongoing Middle East tensions, a combination that's left traders rethinking both the Fed's next move and how much further this AI-driven pullback has to run.
Not every corner of the market suffered. Defensive sectors like Utilities, Staples and Energy posted strong weeks, and the Dow actually finished higher, highlighting a sharp rotation away from AI-exposed tech into safer ground.
#Nasdaq #StockMarket #TechStocks #AIBubble #WallStreet
The tech-heavy index fell 2.5% on Friday alone, closing at 29,187.55, and shed 5.5% on the week, its steepest weekly decline since the April 2025 tariff turmoil. The broader Nasdaq Composite wasn't far behind, dropping roughly 4.5% for the week, its worst showing since June.
The index now sits nearly 7% below its October 6 peak, and another drop of just over 3% would officially put it in correction territory.
Semiconductor stocks are leading the pain, the Philadelphia Semiconductor Index just logged its longest losing streak since 2006, as investors grow increasingly uneasy about the pace and financing of AI infrastructure spending. Memory chip names have been hit especially hard, with some individual names down more than 15-25% over just five trading days.
Adding fuel to the fire, the same week brought hotter-than-expected CPI and the biggest PPI jump since 2022, plus Brent crude touching $110 amid ongoing Middle East tensions, a combination that's left traders rethinking both the Fed's next move and how much further this AI-driven pullback has to run.
Not every corner of the market suffered. Defensive sectors like Utilities, Staples and Energy posted strong weeks, and the Dow actually finished higher, highlighting a sharp rotation away from AI-exposed tech into safer ground.
#Nasdaq #StockMarket #TechStocks #AIBubble #WallStreet