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Nasdaq posts sharpest weekly drop since April amid AI stocks pull-back
Tech stocks dragged the Nasdaq down for the week as investors took profits and questioned the AI rally’s durability.
The Nasdaq Composite index ended slightly lower on Friday, marking its biggest weekly decline since early April as tech and chip stocks came under pressure amid doubts over the sustainability of the AI-led rally.
Semiconductor names such as Nvidia and Broadcom fell ~2 %-3 % during the week, and the broader tech sector posted its worst performance in seven months.
The pull-back follows a six-month surge in tech valuations and highlights mounting investor caution around AI hype, high multiples and near-term macro risks.