The Dow Jones Industrial Average fell 521 points, a 1.0% slide, as investors still re‑hash the tech sell‑off from Thursday. The S&P 500 slipped 0.6% and the Nasdaq Composite dropped 0.5%, echoing caution over AI spending and higher financing costs.
Microsoft and Meta slipped 0.8% and 1.2% respectively, while CoreWeave sank 10% after its earlier plunge. Semiconductor names steadied: Micron Technology and AMD gained 1.1% and 1.3% early on.
The 10‑year U.S. Treasury yield edged up 1 basis point to 4.97%, staying below the 5% ceiling, while the 30‑year remained flat and the 2‑year fell 2 basis points to 4.55%, according to the U.S. Treasury Department's release.
Crude prices climbed: WTI rose 1.4% to $100.90 a barrel, and Brent edged 0.75% to $114, per the latest market quotes. The uptick follows reports that the U.S. and Israel are drafting plans for possible fresh strikes on Iran, tightening fears over a wider conflict.
Investors now weigh the impact of higher yields on borrowing costs for tech firms and the potential for a Fed rate hike in March, as geopolitical tensions keep markets on edge. Market participants will also monitor the next earnings cycle for AI‑heavy companies.