US equities sold off sharply on Friday, sending tech stocks to the biggest weekly loss in 17 months, due to tensions in the Middle East and worries over the outlook for interest rates.
The S&P 500 index closed down 0.9%, dropping for the sixth straight session and the third straight week, leaving it more than 5% below its March 28 closing high. The Nasdaq 100 declined 2.1%, and recorded the deepest weekly drop since November 2022. The Cboe Volatility Index climbed close to 19. Tech heavyweights Nvidia Corp., Meta Platforms Inc. and Amazon.com Inc. were among the biggest contributors to the losses in both the stock indexes on Friday.
