Nasdaq Plummets in Worst Week Since June as CoreWeave, Intel Slide

Today's AI insights from 7horns.ai: In this week's stock market analysis, tech shares suffered a major selloff, dragging the Nasdaq Composite down 2.14% on Friday to 26,140, while CoreWeave plunged 11.91% and Advanced Micro Devices slid 5.95% amid growing credit concerns. The S&P 500 also fell 1.09% to 7,659, capping its worst weekly decline since June as sticky consumer price index inflation reached 3.7%. For investors tracking financial news and trading insights, this divergence shows a massive tech rotation into defensive sectors, providing vital AI-powered analysis for your data-driven investing strategy and long-term market outlook. AI insights powered by 7horns.ai. Visit 7horns.ai for your free daily AI market analysis.

You are listening to Seven Horns AI — your AI powered market update. Happy Saturday, October seventeenth, twenty twenty-six. The U S stock market is closed for the weekend, and today we are looking back at a highly divergent week on Wall Street. Friday's action capped off a challenging week, particularly for the technology sector. The S and P five hundred declined meaningfully on Friday, shedding one point zero nine percent to close at seventy-six hundred and fifty-nine. This downward move sealed the benchmark's worst weekly performance since June, with a weekly loss of about one point nine percent. The Nasdaq Composite felt the brunt of the selling, falling two point fourteen percent on Friday to finish at twenty-six thousand one hundred and forty. That brought the Nasdaq's weekly decline to roughly four to four point five percent, also its worst week since June. In contrast, the Dow Jones Industrial Average was little changed, dipping just zero point thirty-four percent to end at fifty-two thousand and two. Remarkably, the broad market actually showed positive underlying strength, with seventy percent of the constituents in the S and P five hundred finishing Friday's session in the green. This stark divergence was driven by a significant de-rating in high-multiple technology and artificial intelligence infrastructure names, fueled by growing credit and financing concerns. CoreWeave was a major focus, tumbling eleven point ninety-one percent on Friday and extending its weekly slide past twenty-five percent. This credit anxiety pressured the entire semiconductor complex, sending the Philadelphia Semiconductor Index down three point eighty-three percent for its eighth consecutive losing session. Individual chipmakers suffered sharp losses, with Advanced Micro Devices falling five point ninety-five percent and Micron Technology dropping five point sixty-three percent. Intel fell five point seventy-nine percent, while Arm Holdings dropped six point ninety-four percent. Megacap leaders were caught in the slipstream, with Meta Platforms down three point seventy-two percent and Alphabet off two point forty-seven percent. Nvidia fell a more moderate one point forty-three percent, while Apple was the sole green megacap, ticking up zero point forty-three percent. As money rotated out of tech, defensive areas thrived. Consumer staples and healthcare sectors jumped on Friday. Meanwhile, inflation remains sticky. September consumer price index data accelerated to three point seven percent, with core consumer prices at two point six percent, keeping the Federal Reserve policy debate hot. The ten-year Treasury yield held near five point one percent. Looking to the week ahead, the Federal Open Market Committee is scheduled to meet on October twenty-seventh and twenty-eighth, with prediction markets currently putting an eighty-seven percent probability on no change to interest rates. Monday will also bring key data out of China, including quarterly gross domestic product, which could set the tone for global markets. In terms of early indications, Nikkei futures are pointing lower, down about one point fifteen percent, while Hang Seng futures are down zero point fifteen percent, suggesting a cautious start to the week in Asia following the U S technology sell-off. That is your weekend market review from Seven Horns AI. Enjoy the rest of your weekend, and we will see you when the bell rings Monday. Visit seven horns dot ai for more insights.