It was a volatile week on Wall Street, with the final two sessions delivering jolts to an AI-driven rally that had looked unstoppable.
On Friday, the Nasdaq 100 — tracked by the Invesco QQQ Trust (NASDAQ:QQQ) — recorded its worst drop since April 2025’s ‘Liberation Day’ selloff sparked by Trump-related tariffs, while the S&P 500 — tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY) — snapped nine straight weeks of gains, its longest streak since 2023.
Something went wrong.
The risk sentiment sank amid two key catalysts.
First came Broadcom Inc. (NASDAQ:AVGO). The chipmaker giant beat expectations last quarter and guided next-quarter sales to $29.4 billion, above the Street’s $28.6 billion.
