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Nasdaq Composite Drops 2.14% Friday, Down More Than 4% for Week

The weekly decline came amid a pullback in artificial intelligence-related stocks, with memory-chip makers among the hardest-hit groups.

By Enna Lee
Published
Memory chips descend diagonally across a matte burgundy surface / TokenPost.ai
Memory chips descend diagonally across a matte burgundy surface / TokenPost.ai

The Nasdaq Composite fell 2.14% on Friday, Oct. 16, as technology shares came under pressure. The index lost more than 4% over the week.

The weekly decline came amid a pullback in artificial intelligence (AI)-related stocks. Memory-chip makers were among the hardest-hit groups as investors reassessed the technology sector.

The S&P 500 fell 1.1% and the Dow Jones Industrial Average lost 0.3% in Friday’s broader technology-led selloff.

Enna Lee

Reporter

Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.

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