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Dow loses more than 500 points Friday as tech slumps and yields spike: Live updates
Stocks fell on Friday, bogged down by losses in technology stocks and a rise in U.S. Treasury yields, after a summit between President Donald Trump and Chinese President Xi Jinping ended and left traders worried about no major policy breakthroughs.
The S&P 500 shed 1.24% to end at 7,408.50, while the Nasdaq Composite slipped 1.54% to 26,225.14. The Dow Jones Industrial Average was down 537.29 points, or 1.07%, and closed at 49,526.17.
Investors took profits in tech after the group saw sharp gains recently. Notably, Intel retreated more than 6%, while Advanced Micro Devices and Micron Technology lost 5.7% and 6.6%, respectively. Nvidia dropped 4.4%, while Cerebras Systems — which surged 68% Thursday after it began trading on the Nasdaq — shed 10%.
“The group has witnessed an extremely unsustainable move in recent weeks and remains vulnerable to profit taking regardless of the headlines,” wrote Adam Crisafulli of Vital Knowledge.
Treasury yields jumped, pressuring stocks, with the 30-year rate topping 5.1%. A series of reports this week showed inflation was revving back up as oil prices remain elevated from the Middle East conflict. Higher rates could hit the high growth stocks the hardest.
https://www.cnbc.com/2026/05/14/stock-m ... dates.html