S&P 500 and Nasdaq Slip as Tech and AI Stocks Lead Weekly Declines
U.S. equity indexes ended the week in the red, with the S&P 500 and Nasdaq each posting their steepest declines in over a week. Heavy selling in semiconductor and artificial‑intelligence names, as well as megacap players like Alphabet and Apple, drove the downturn, while investors shifted toward more defensive sectors. Analysts note that the indexes are testing key support levels; a break could open the door to further losses. The pullback follows earlier gains that were fueled by hotter‑than‑expected inflation data and strong earnings, but concerns over lofty valuations and slowing AI spending are now outweighing that optimism.
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