The S&P 500 Index ($SPX) (SPY) Friday closed down -1.73%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -1.01%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -2.69%.
Stocks sold off sharply Friday, with the S&P 500 falling to a 3-1/2 week low, the Dow Jones Industrials sliding to a 3-week low, and the Nasdaq 100 dropping to a 4-week low. Weakness in chip stocks weighed on the overall market Friday, led by a -10% plunge in Broadcom after it gave disappointing guidance on Q4 revenue. Also, a slump in megacap technology stocks was a drag on the broader market.
