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Nasdaq posts significant weekly loss amid tech stock corrections
Nasdaq dropped 1.
The Nasdaq Composite recorded a 1.9% weekly decline, marking its worst performance since April, driven by sharp corrections in technology stocks and growing concerns over AI valuations. The S&P 500 and Dow Jones also closed the week lower, falling 1.8% and 1.1% respectively. Investors reacted to weak consumer sentiment data and the ongoing US government shutdown, which contributed to uncertainty.
Trading volumes surged in tech-heavy sectors, while energy and utilities provided limited support. The market ended the week with heightened volatility across major indices.