Wall Street Ends Volatile Week With Dow and S&P 500 Lower, Cybersecurity Stocks Rally
The Dow Jones Industrial Average fell 1.2% and the S&P 500 lost 0.4% on Friday as selling spread beyond artificial-intelligence shares. Technology stocks...
The Dow Jones Industrial Average fell 1.2% and the S&P 500 lost 0.4% on Friday as selling spread beyond artificial-intelligence shares. Technology stocks found pockets of strength, however, with several cybersecurity companies climbing more than 5%.
The Nasdaq Composite slipped below unchanged after a sharp technology-sector sell-off the previous session. Friday’s uneven trading capped a rocky week for U.S. markets, as investors weighed the cost of financing AI infrastructure against rising oil prices and higher Treasury yields.
AI shares attempt a rebound
Nvidia and AMD edged higher, along with other companies tied to AI infrastructure, after Thursday’s losses. Investors had grown concerned about the expense of funding new projects and the possibility that companies could slow capital spending. Those worries had hit debt-heavy neocloud provider CoreWeave particularly hard.
Not every technology name recovered. SailPoint, Cloudflare and Palo Alto Networks each gained more than 5%, while the broader Nasdaq remained under pressure.
Some relief, though.
SpaceX, Tesla and Meta shares steadied on Friday after falling in the previous session. Thursday’s trading had been especially punishing for technology: the Nasdaq dropped 2.6%, the S&P 500 fell 1.2%, and the Dow was little changed. Meta sank nearly 7% as investors assessed its quarterly results and a planned 2-for-1 stock split.
Oil and yields remain in focus
Oil prices stayed near a five-month high as concerns over escalating Middle East tensions supported crude. The rise added pressure to a market already tracking borrowing costs: the 10-year Treasury yield increased on Friday but remained below 5%.
Earlier in the week, technology shares had rebounded on Monday, lifting the Nasdaq 1.1% and the S&P 500 0.4%, while the Dow slipped just below flat. The recovery followed the Nasdaq’s worst week since June, but Thursday’s renewed AI concerns quickly reversed the mood.
With investors still weighing financing costs, corporate spending plans and oil’s advance, markets enter the next stretch with technology shares and Treasury yields firmly in focus.
Source: reuters.com
