SPONSORED:

NASDAQ closes out worst week since March

NASDAQ closes out worst week since March
© Getty Images

The tech-heavy Nasdaq composite on Friday closed out its worst week since March as major technology stocks dropped.

The index was down 66 points Friday, or 0.6 percent, bring its weeklong decline to 460 points, or 4 percent.

But other key indexes made moderate gains.

ADVERTISEMENT
The Dow Jones Industrial Average was up 131 points, or 0.5 percent, while the S&P 500 was up 2 points, essentially flat and negligible in terms of percentage points.

Technology has led the market recovery from its precipitous pandemic plunge in March. Just a handful of stocks, such as Apple, Microsoft, Facebook, Amazon, Alphabet and Netflix make up an outsized share of the major indexes, particularly the Nasdaq.

The rise has created high valuations and fear of a bubble, leading to market jitters and a pullback by traders over the last two weeks.