Nasdaq ends lower, falls over 4% in a week

US stocks ended mixed on Friday, with S&P 500 closing unchanged. Nasdaq fell for the fifth straight session as investors continued to rotate out of technology stocks.

At the close, the Dow Jones Industrial Average slipped 0.10%, or 44 points, to 51,876, but posted a 0.6% weekly gain.

The S&P 500 ended flat at 7,354, finishing the week 1.95% lower.

The Nasdaq Composite fell 0.24%, or 60 points, to 25,297, extending its weekly loss to 4.60%.

In Europe, the Stoxx Europe 600 index declined 0.68% to 635, weighed by losses in the energy, retail and technology sectors, although it was little changed for the week.

Britain's FTSE 100 fell 0.21% to 10,508. Germany's DAX lost 1.29% to 24,671, and France's CAC 40 eased 0.55% to 8,384.

In Asia, Japan's Nikkei 225 tumbled 4.15% to 69,360, while the broader Topix index fell 1.32% to 3,963.

In commodities, Brent crude futures for August delivery fell 4.34%, or $3.27, to settle at $71.99 a barrel, while US WTI futures for August delivery declined 3.74%, or $2.69, to $69.23 a barrel.

Gold futures for August delivery rose 1.2%, or $48.70, to settle at $4,096.30 per ounce.

Market drivers

Markets continued to reprice expectations for the artificial intelligence sector following reports that OpenAI had delayed a planned launch and as pressure persisted on SpaceX, prompting investors to reduce exposure to semiconductor and technology stocks in favor of defensive sectors amid ongoing uncertainty over interest rates and geopolitical tensions.