Stocks mostly ease with tech, Nvidia concerns; airline shares fall late in session
SPY•Nasdaq and S&P 500 fell on Friday as technology shares sold off amid concerns about Nvidia, while airline shares dropped after the FAA ordered a national ground stop. The dollar reached a 19-month high, and the Dow, S&P 500 and Nasdaq all posted weekly gains.
1. US stocks end mixed
The Dow rose 50.46 points, or 0.10%, to 52,347.55, while the S&P 500 fell 0.40% to 7,561.67 and the Nasdaq dropped 0.91% to 25,136.27. All three major US indexes and the pan-European STOXX 600 gained for the week. The Philadelphia semiconductor index fell 3.4%; Nvidia shares lost 2%, and Advanced Micro Devices and Broadcom shares also fell sharply.
2. Nvidia concerns weigh
Nvidia CEO Jensen Huang resigned on Thursday, a development that could affect US chip export policy and the AI industry, the article said. Nvidia's board has reportedly approached Arm Holdings CEO Rene Haas as a potential successor. Nvidia is due to report quarterly results on Tuesday after the closing bell.
3. Dollar and rates rise
The dollar index rose 0.17% to 103.40, its highest since April 2025, as traders increased bets on faster rate hikes after US inflation data and hawkish Federal Reserve commentary. The 2-year Treasury yield had its largest weekly increase in more than two years. Oil prices were little changed on Friday but fell for a second straight week.
