US markets weighed down by an extended sell-off in tech sector
Wall Street finished lower as a prolonged sell-off in the technology sector weighed heavily on major benchmarks. The S&P 500 and Nasdaq composite posted their worst weekly performances since June amid sliding chipmaker shares.
- SSPX
Extended technology sector sell-off drags down the broader market index.
- NNDX
Heavy losses in big tech and chip stocks triggered the worst week since June.
- DDJI
Broader market risk-off sentiment spilled over into blue-chip equities.
United States stock markets extended their recent declines, driven by sustained selling pressure across major technology and semiconductor equities. The S&P 500 dropped 1.1 percent on Friday, while the tech-heavy Nasdaq composite sank 2.1 percent, culminating in their worst weekly losses since June. The Dow Jones Industrial Average fared relatively better, experiencing a milder decline of 0.3 percent due to its lower weighting in speculative growth assets. Semiconductor and chip manufacturing companies bore the brunt of the liquidation wave as institutional investors locked in profits and trimmed risk exposure. Market analysts attribute the tech slump to valuation fatigue, rising Treasury yields, and broader concerns over slowing economic momentum. This widespread correction has forced traders to re-evaluate portfolio allocations away from high-multiple growth sectors toward defensive assets.
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