US equities closed lower on Friday, with the Nasdaq Composite dropping 1.4% and all three major indexes posting weekly losses amid a sharp sell-off in semiconductor stocks. The Dow Jones Industrial Average fell 400 points, or 0.75%, on the day and ended the week down nearly 1%, while the S&P 500 lost about 1.5% for the week. The Philadelphia Semiconductor Index entered bear market territory, closing well below the 11,707 threshold, as memory stocks had already fallen into a bear market weeks earlier. In contrast, software stocks managed a small gain of about 0.5% for the week, with Apple up 6% and Microsoft up 2%, while semiconductor names suffered steep declines, including SanDisk down 30%, GlobalFoundries down 16%, and the DRAM ETF down 16%. Defensive sectors like energy, real estate, staples, and healthcare posted weekly gains, while the tech sector fell 5.5% and consumer discretionary dropped about 1.5%.
Apple Inc.
Microsoft Corporation
Globalfoundries Inc
Sandisk Corp
Cisco Systems Inc
Chevron Corp
International Business Machines
Seagate Technology PLC