Investors Rotated Out of the AI Trade and Geopolitical Tensions Soared. The Nasdaq Saw Its Worst Week in Months.

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Stocks plunged on Friday as traders continued to rotate out of the AI trade and geopolitical tensions continued to climb. The Dow Jones Industrial Average fell 0.34%, while the S&P 500 did so 1.09%. The tech-heavy Nasdaq Composite underperformed, plummeting 2.14% and closing its worst week since June. Semiconductor companies led the decline, having been hit this week over concerns about competition from China. Oil prices also soared on Friday as geopolitical tensions continue to escalate, particularly in the Middle East and between Russia and Ukraine. Brent crude, the international benchmark is trading around $110 a barrel, while West Texas…

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