Dow loses more than 500 points Friday as tech slumps and yields spike: Live updates
Stocks fell on Friday, bogged down by losses in technology stocks and a rise in U.S. Treasury yields.
AI Summary
U.S. stock futures remained largely flat Thursday night after the Dow Jones reclaimed 50,000 and the S&P 500 closed above 7,500 for the first time, with both the S&P 500 and Nasdaq Composite finishing Wednesday's session at record highs. Applied Materials beat earnings expectations and shares rose 2% in after-hours trading, while SpaceX is planning to disclose its IPO prospectus as early as next week. Despite the record highs driven by artificial intelligence enthusiasm, some investors are concerned about market fragility, as gains are concentrated in large tech companies while broader market momentum has slowed.