16.10.202620:14:09UTC+00US Stocks Fall as Chip Selloff Deepens

US stock indices finished lower on Friday as the selloff in chipmakers stretched into an eighth straight session, the sector’s longest losing streak since the 2008 financial crisis. The S&P 500 declined 1.1%, the Dow Jones Industrial Average fell 175 points, and the Nasdaq Composite dropped 2.5%.

CoreWeave sank 11.9%, deepening its weekly loss to 23.7% and underscoring renewed credit concerns surrounding AI infrastructure companies. The sector has come under pressure following relatively modest revenue figures from Anthropic and mounting worries about the impact of higher interest rates on heavily indebted firms.

Economic data released this week showed an acceleration in consumer inflation and a sharp rise in producer prices, both at the headline and core levels. Among chipmakers, Nvidia slipped 1.4%, Micron declined 5.6%, and AMD fell 5.9%.

Elsewhere in the market, Tesla dropped 2.1% and SpaceX fell 1.7% amid speculation about a potential merger between the two companies.

For the week, the S&P 500 lost 2%, the Nasdaq fell 5%, while the Dow ended with a gain of 156 points.