The Dow Jones Industrial Average fell 245 points after hitting a new high, while the Nasdaq lost 1.7%. Broadcom dropped 11%, leading the decline among AI stocks

AASTOCKS
2025.12.12 21:23

The market continued to sell off technology stocks and shifted towards cyclical stocks, with U.S. stocks declining on Friday. The Nasdaq led the decline, closing down 398 points or 1.7% at 23,195 points; the Dow Jones briefly hit a new intraday high before falling, closing down 245 points or 0.5% at 48,458 points; the S&P 500 index fell 73 points or 1.1% to 6,827 points.

For the week, both the S&P 500 index and the Nasdaq closed lower, down 0.6% and 1.6% respectively, while the Dow Jones rose 1.1%.

The Nasdaq was dragged down by AI stocks, with Broadcom (AVGO.US) providing disappointing AI sales guidance, causing its stock price to drop 11.4%. Oracle (ORCL.US), which fell over 10% on Thursday, continued to decline by 4.5%. It was reported that China may refuse to purchase the H200 chips permitted for export by the U.S., leading NVIDIA (NVDA.US) to drop 3.3%.

Large tech stocks had mixed performances, with Microsoft (MSFT.US) and Meta (META.US) both down about 1%, while Tesla (TSLA.US) rose 2.7%.

Lululemon (LULU.US) reported better-than-expected quarterly results, and with the CEO set to step down next month, its stock price rose about 10%

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