Meta's twin legal defeats this week and a big sell-off in Micron spurred a drop in technology stocks, which were broadly hit by rising oil prices.
A bad week for stocks was particularly rough for tech investors, as the Nasdaq suffered its worst weekly drop since April 2025. Meta
and Micron
saw double-digit drops, but the pain was felt across the board as concerns about the U.S.-Iran war drove up energy prices.
The Nasdaq dropped 3.23% for the week. The last time the tech-heavy index witnessed such a selloff was in April after President Donald Trump’s threats of sweeping tariffs led to a near panic in the market.
Google parent Alphabet
Since reporting blowout earnings March 18, the memory maker's shares have slid about 30%.
Nvidia dropped almost 5%, pacing a steep decline in tech stocks, after President Trump threatened more tariffs on China.
President Donald Trump's Iran ceasefire announcement provided some relief to Wall Street and tech stocks shared in the rally.
AI hyperscalers had a bruising week after investors got jittery about huge expenditure outlooks.
Investors had looked to Nvidia's earnings report to settle fears that the AI bubble is on increasingly shaky ground.
As much as $800bn wiped off software-heavy Nasdaq index in New York as traders mount firesale
