Nasdaq Falls More Than 4% for Week as Oil Tops $100 and Chip Stocks Slide

U.S. stocks fell Friday as a technology selloff and crude above $100 left the Nasdaq Composite down more than 4% for the week, its sharpest decline since June. The Nasdaq lost 2.14% on Friday, Oct. 16, as technology shares came under pressure . The S&P 500 fell 1.09% Friday and about 2% for the week. The Dow Jones Industrial Average slipped 0.34% on the day but gained 0.7% for the week. Chip shares were among the hardest hit. The semiconductor ETF SMH dropped 3% Friday and 10% for the week, its largest weekly decline since April 2025. Micron, AMD and SanDisk were among the weakest stocks as concerns about Chinese competition and borrowing for AI infrastructure weighed on the sector.

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