Nasdaq falls 2.1% for its worst week since June as chip stocks slide on AI financing worries

US stocks fell on Friday as the tech sell-off extended: the Nasdaq closed down 2.1% at 26,140.03 for its first weekly loss in five weeks and worst since June, and the S&P 500 lost 1.1%. Micron fell 5.6%, AMD 6%, Broadcom 4.5% and Intel 5.8%. Investors are worried that AI builders that rely on debt markets may struggle to keep borrowing as global bond yields sit at multi-year highs; the sell-off began after the hotter-than-expected September CPI.

• Nasdaq -2.1% to 26,140.03; S&P 500 -1.1%
• Micron -5.6%, AMD -6%, Broadcom -4.5%, Intel -5.8%
• Financing costs for AI spending are the main worry as yields climb
• 20 of the biggest AI and chip stocks lost over $1 trillion earlier in the week