US stocks moved slightly lower on Friday following a sharp reversal in tech stocks on Thursday.
AdvertisementThe AI-fueled tech rally showed signs of exhaustion, with the stalwart Nvidia experiencing a near 7% swing in Thursday's trading session, rising as much as 3% before it finished the day lower by 3.5%.
Other AI tech darlings saw sharp reversals and moved lower on Thursday, with those losses spilling over into Friday's trading session.
There is rising inventory and a perceived drop in traffic that is recessionary in its level," GlobalData TS Lombard said on Thursday.
Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Friday:AdvertisementHere's what else is going on today:In commodities, bonds, and crypto:
Persons:
GlobalData, Lombard
Organizations:
Nvidia, Dell, Broadcom, Micro, Federal Reserve
Locations:
Here's