U.S. equities experienced heightened volatility as the NASDAQ Composite declined nearly 4% over the week, driven by investor anxiety over rising unemployment claims, falling job openings and an acceleration in layoffs. The broad selloff reflected growing skepticism about near-term economic growth and corporate spending.

Amazon surprised markets by unveiling plans to increase 2026 capital expenditures by $200 billion, largely earmarked for expanding AI infrastructure within AWS and logistics networks. The announcement triggered a 9% collapse in Amazon’s share price as investors weighed the dilutive effects on free cash flow and earnings.

Recent Labor Department data showed job cuts rising month-on-month, while the number of job openings fell to its lowest level in two years. These readings fueled fears of a slowing economy, prompting investors to rotate capital from high-growth technology names toward more cyclical sectors.

As technology stocks bore the brunt of the downturn, cyclicals such as industrial and energy names outperformed, and the Dow Jones Industrial Average held near flat for the week. Oil prices tumbled over 3.5% on weakening demand indicators and Saudi Arabia’s further price reductions, amplifying the shift away from growth-oriented assets.