Tech Stocks Drag Nasdaq Down 2.14 Percent in Worst Weekly Fall Since June

Technology stocks pulled the Nasdaq Composite Index down 2.14% on Friday, wrapping up a difficult week for major technology firms. For the week, the index lost 4.48%, marking its steepest weekly decline since June. Semiconductor companies were among the hardest hit as investors reassessed the artificial intelligence sector, with Micron Technology, Inc. (NASDAQ:MU) dropping 5.63%, Advanced Micro Devices, Inc. (NASDAQ:AMD) falling 5.97%, and Sandisk Corporation (NASDAQ:SNDK) sliding 6.85%. Beyond chips, Rocket Lab Corporation (NASDAQ:RKLB) dropped more than 25% over the week after delaying the first launch of its Neutron rocket to 2027.

The weekly pullback reflects growing investor caution around technology valuations following significant recent gains. As market participants reduced exposure to high-growth tech shares, funds shifted toward consumer product companies. Keurig Dr Pepper Inc. (NASDAQ:KDP) led gainers after receiving an analyst rating upgrade to Overweight earlier in the week, while other consumer brands like Starbucks Corporation and Coca-Cola Europacific Partners also ended higher.

Investors will monitor whether chip makers can stabilize after the sharp drop and whether tech sector buying resumes. Markets will also watch development milestones for growth companies like Rocket Lab Corporation to evaluate if timeline delays affect broader investor sentiment.