Market Overview
The Nasdaq Composite closed at 26,008.86, down 2.6% on Thursday, reflecting a broad sell‑off that also pulled the S&P 500 lower [3]. Oil prices rose to $116 a barrel and the 10‑year Treasury yield tested 5%, adding pressure to risk assets [3].
Tech Stocks Pressure
Semiconductor and artificial‑intelligence names led the decline, with NVDA and MSFT among the hardest hit [3]. The broader tech index struggled despite GOOGL holding some support, as the sell‑off spread beyond pure‑play AI stocks [1][3].
Energy and AI Resilience
Energy shares rallied, buoyed by oil at $116, while AI‑focused companies showed relative strength, creating a bifurcated market picture on Friday [4]. This contrast kept the QQQ’s tech exposure from collapsing completely [4].
CrowdStrike Outlook
CrowdStrike CEO warned of a potentially prolonged downturn, noting that the current sell‑off is extending beyond the tech sector [1]. The comment underscores lingering uncertainty for cybersecurity and related megacap stocks.