Nasdaq plunges 4.2 in worst tech sell-off since 2025 on Fed rate fears
Wall Street endured its sharpest rout in more than a year on Friday as a violent sell-off in technology shares, stoked by fears of higher US interest rates, erased nearly $1.1 trillion in market value from the nine largest tech stocks in the S&P 500.
The Nasdaq Composite led the decline, plunging 4.2 per cent—the biggest single-day drop since April 2025—while the S&P 500 fell 2.6 per cent and the Dow Jones Industrial Average slipped 1.4 per cent . The rout followed a weaker-than-expected US jobs report, which intensified concerns that the Federal Reserve may delay or scale back planned interest-rate cuts. Chipmakers bore the brunt of the sell-off, with the Philadelphia Semiconductor Index tumbling more than 6 per cent after Broadcom’s post-market slump on Thursday .
The rout extended into Friday’s futures trading, where Nasdaq-100 contracts underperformed as investors reassessed valuations in the artificial-intelligence trade. “The AI trade has been crushed,” said analysts at Proactive Investors, noting that the S&P 500’s nine-session winning streak had been snapped by the Federal Reserve’s hawkish pivot . European markets mirrored the gloom, with South Korea’s Kospi index plunging 3.1 per cent amid souring sentiment toward global chipmakers .
The dollar retreated against major peers as crude oil prices weakened, with the US currency losing ground despite the broader risk-off tone . In Germany, the *Süddeutsche Zeitung* described the day’s losses as a “collapse of all dams,” highlighting the Nasdaq’s 4 per cent decline compared with the Dow’s more modest 1.5 per cent fall .
Analysts warned that the sell-off could deepen if Friday’s non-farm payrolls data, due later in the session, confirms a cooling labour market. “The market is pricing in a higher-for-longer Fed,” said a strategist quoted by BSS News, adding that rate-sensitive tech stocks remain vulnerable to further downside . With the Nasdaq’s decline marking its worst day since April 2025, investors are bracing for a prolonged period of volatility as central bank policy and AI-driven earnings growth come under renewed scrutiny.
- sueddeutsche
- il fatto quotidiano
- digi24
- cphpost
- svenska dagbladet
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