The session marked one of the largest one-day declines in recent months. The retreat followed weaker-than-expected corporate earnings and cautious guidance from several large technology companies, market participants said. The Dow Jones Industrial Average and the S&P 500 also closed lower, though the heaviest losses were concentrated in AI-linked names.
Semiconductor and cloud-computing shares fell after quarterly results missed some analyst estimates, according to company filings and analyst notes. Investors reduced positions in companies tied to artificial intelligence infrastructure, citing uncertainty over capital spending and profit timelines. Losses were pushed in part by Amazon, which shed about 2% when trading opened Friday morning, according to a market recap [1].
Treasury yields and volatility measures rose as investors moved toward assets viewed as safer, exchange data showed. Officials did not comment on the decline. The CBOE Volatility Index, a gauge of expected stock market turbulence, climbed during the session.
The pullback extended to a range of AI-adjacent companies, from chipmakers to data-center operators. Analysts described the selling as orderly but broad, wit...