The S&P 500 fell 1.09%, the Nasdaq dropped 2.15% and the Dow slipped 0.34% on Friday as AI-related stocks came under pressure and oil prices jumped more than 3%. The S&P 500 and Nasdaq posted their steepest weekly losses since June.
Wall Street ended sharply lower Friday, with investors weighing concerns that debt-laden AI infrastructure companies may not generate profits in time to repay their debts and a more than 3% jump in oil prices. The S&P 500 fell 1.09% to 7,659.44, the Nasdaq declined 2.15% to 26,140.03 and the Dow dipped 0.34% to 52,002.41.
CoreWeave fell 12%, bringing its five-session loss to about 25%, while its bonds sold off and yields rose above 15%. Broadcom dropped 4.5%, and the chip index fell 3.8% for an eighth consecutive session. For the week, the S&P 500 lost almost 1.95% and the Nasdaq fell 4.48%, their steepest weekly declines since June; the Dow gained 0.67%. Investors were also watching oil supply concerns and inflation data, while some Anthropic investors and prospective investors were reportedly weighing a lower valuation for its upcoming IPO.
