Nasdaq Drops 4% as Tech Stocks Plummet, Fed Rate Odds
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- Nasdaq fell 4.1% on Friday, erasing nearly a month’s worth of gains and delivering the steepest drop among U.S. indexes.
- S&P 500 closed down 2.6%, ending a nine‑week winning streak and posting a weekly loss of about 2.6% while still up 1.7% for the month.
- Dow Jones Industrial Average slipped 1.3% on Friday, though it remains up over 3% for the month.
- Intel shares plunged more than 11% as part of the tech sell‑off.
- Oracle stock dropped 9.5% during the same session.
- Nvidia fell nearly 6% as AI‑related stocks led the decline.
Why it matters: Tech investors and AI‑focused firms face immediate losses as the Nasdaq and related indexes tumble, while the broader market’s dip reflects heightened sensitivity to Fed policy expectations and pushes investors toward safe‑haven assets such as gold and silver, which also slipped to multi‑month lows.
