Stocks closed lower on Wall Street as more drops for big tech companies weighed on the market.
The S&P 500 lost 1.1% Friday, and the Nasdaq composite sank 2.1%. Both posted their worst week since June. The Dow Jones Industrial Average didn’t do as badly, and fell 0.3%.
Chip companies pulled back some more as worries deepened about how long the frenzy over the AI buildout will last. Micron Technology fell 5.6% and Intel lost 5.8%. European and Asian markets closed higher.
On Friday:
The S&P 500 fell 84.62 points, or 1.1%, to 7,659.44.
The Dow Jones Industrial Average fell 175.28 points, or 0.3%, to 52,002.41.
The Nasdaq composite fell 572.99 points, or 2.1%, to 26,140.03.
The Russell 2000 index of smaller companies fell 45.90 points, or 1.7%, to 2,721.37.
For the week:
The S&P 500 is down 152.10 points, or 1.9%.
The Dow is up 347.46 points, or 0.7%.
The Nasdaq is down 1,226.14 points, or 4.5%.
The Russell 2000 is down 85.61 points, or 3%.
For the year:
The S&P 500 is up 813.94 points, or 11.9%.
The Dow is up 3,939.12 points, or 8.2%.
The Nasdaq is up 2,898.04 points, or 12.5%.
The Russell 2000 is up 239.46 points, or 9.6%.
