US equity markets closed lower on Friday, June 26, as volatility persisted and losses in the technology sector deepened.
The Nasdaq Composite fell sharply, marking a difficult week for growth stocks amid growing investor caution regarding valuations in the artificial intelligence space.
6% for the week, reflecting sustained selling pressure that has characterized the broader market since early in the trading week.
The tech-heavy index dropped 4.6% for the week, reflecting sustained selling pressure that has characterized the broader market since early in the trading week.
The decline underscores a shift in sentiment as traders reassess the pricing of AI-linked companies, moving away from the momentum-driven buying that had supported the sector in recent months.
This latest session continues a pattern of weakness observed earlier in the week.
US equities had already posted declines on Monday, with the Nasdaq Composite falling 1.32% to 26,166.60, while the S&P 500 retreated 0.4%.