tech
Tech stocks suffer worst week in nearly a year, driven down by war worries, Meta legal woes
Meta's twin legal defeats this week and a big sell-off in Micron spurred a drop in technology stocks, which were broadly hit by rising oil prices.
TL;DR
- Nasdaq suffered its worst weekly drop since April 2025.
- Meta experienced double-digit declines following two court defeats.
- Micron shares plunged over 15% after being a strong performer.
- Rising energy prices due to the U.S.-Iran war impacted the market.
- Alphabet, Microsoft, Nvidia, Amazon, and Tesla also saw stock price drops.
- Apple was the best-performing megacap tech company for the week.
- Investor attention is turning to Elon Musk's companies, SpaceX and Tesla.