Duolingo Shares Tumble 17.05% as Nasdaq, Russell 2000 Slide
Duolingo shares plunged 17.05% on Friday as the Nasdaq 100 fell 0.6% and the Russell 2000 declined 2.1%, driven by a tech selloff sparked by AI disruption concerns. The decline made Duolingo one of the Russell 1000’s five worst performers in a session led by financial and private-equity stocks.
1. Broad Tech Selloff
Tech stocks extended Thursday’s losses as the Nasdaq 100 slipped 0.6% and the Russell 2000 declined 2.1% by early afternoon. Investor concerns over AI-driven disruption combined with hotter-than-expected producer prices to cloud the Federal Reserve’s rate-cut outlook and weigh on market sentiment.
2. Duolingo Stock Performance
Shares of Duolingo plunged 17.05%, marking the second-largest drop among Russell 1000 components on Friday. The language-learning platform underperformed both the S&P 500, which fell 0.7%, and peers across the technology sector in a session dominated by broad-based selling.
3. Financials and Private-Equity Rout
Financial stocks led the market decline, with major banks such as Goldman Sachs, Wells Fargo and Bank of America plunging 5% to 7% in their worst days since April. Private-equity firms also saw steep losses—Blackstone fell over 4.5%, Ares declined 7.6% and Apollo slid 8.6%—as impairment fears spread through diversified financials.