The Nasdaq Composite closed sharply lower on Friday, dropping 572.99 points, or 2.14%, to finish at 26,140.03, according to 연합인포맥스. The decline marked the index's largest weekly loss since the final week of June.
The selling was not confined to tech. The S&P 500 fell 84.62 points, or 1.09%, to end at 7,659.44, while the Dow Jones Industrial Average slipped 175.28 points, or 0.34%, to close at 52,002.41. All three major indexes finished the session in negative territory at the New York Stock Exchange.
The Nasdaq's move also carried technical significance. According to 연합인포맥스, the index broke below its 120-day moving average for the first time since April 10, a level traders often watch as a signal of shifting momentum.
The session's weakness was concentrated in technology and semiconductor shares, with related exchange-traded funds tracking the S&P 500 also declining. The scale of the Nasdaq's weekly drop has raised questions about whether the tech sector is entering a more sustained downward phase rather than a brief pullback.
Investors will be watching whether the Nasdaq can reclaim its 120-day moving average in the coming sessions, and whether selling pressure in technology and chip stocks continues or stabilizes.
