Tech losses hammer S&P 500, Nasdaq to end week

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NEW YORK — The worst week for big technology stocks since the pandemic crash in 2020 dragged Wall Street on Friday across the finish line of another losing week.

The S&P 500 dropped 0.9% to close out its third straight losing week. That’s its longest such streak since September, before it broke out on a romp that sent it to a string of records this year.

The Nasdaq composite sank 2%. The Dow Jones Industrial Average, which has less of an emphasis on tech, was an outlier and rose 211 points, or 0.6%.

The market’s worst performers included several stocks that had been its biggest stars. Super Micro Computer shares lost more than a fifth of their value, dropping 23.1%. The company, which sells server and storage systems used in artificial intelligence and other computing, had soared nearly 227% for the year coming into the day.

Nvidia, another stock that has surged to dizzying heights because of Wall Street’s frenzy around…

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