Before SpaceX’s stock market debut: Black Friday for US tech stocks

At the same time, last Friday was a sad trading day. What’s more, it was the weakest trading day of the year. The prices of tech stocks in New York fell to an extent that they last did in April 2025, when US President Donald Trump shocked the economic world with his tariffs.

The wave of profit-taking in US tech stocks that began on Wednesday has reached a level not seen in a long time. The movement was fueled by a solid US labor market report, which strengthened speculation that the US Federal Reserve will soon raise its key interest rate.

The extremely highly valued tech stocks were hit the hardest, especially chip stocks. The recently particularly hot shares of the chip companies ARM, Marvell, Micron and AMD fell with particularly significant losses of up to 17 percent. Even chip giant Nvidia did not escape the downward spiral with a loss of 6.2 percent. Google parent Alphabet was the most robust with a one percent decline.

In total, the Nasdaq-100 selection index, which is dominated by technology stocks, recorded a discount of 4.77 percent on Friday, making it the largest daily loss since April 2025.

As was the case recently, the Dow Jones, which tends to reflect standard values, performed better. However, he was not able to completely escape the market situation with a loss of 1.35 percent.

The leading stocks in the Dow Jones were Procter & Gamble and Coca-Cola, but Johnson & Johnson and McDonald’s were also in the top group with more than two percent. In the current turbulent stock market times, defensive stocks from the consumer goods sector are more in demand.

The gigantic sums that are invested in AI computing power without knowing whether the investment will ever be profitable are causing greater uncertainty among investors.

The best example is the Meta share, which also lost 5.5 percent on Friday. The share price of Facebook’s parent company was weighed down, among other things, by a report in the Financial Times that the company was considering a major capital increase. Meta is planning to significantly increase investments in AI with a volume of tens of billions of dollars.

It has already been said that Mark Zuckerberg wants to spend a gigantic 125 to 145 billion US dollars in investment capital this year, the lion’s share of which will flow directly into the expansion of artificial intelligence and the necessary data center infrastructure.