Nasdaq Plummets 4% As Tech Selloff Triggers Market Drop

BreakingBusinessNasdaq Plummets 4% As Tech Selloff Triggers Market DropByAntonio Pequeño IV,Forbes Staff. Pequeño is a breaking news reporter who covers tech and more.Follow AuthorJun 05, 2026, 04:10pm EDTToplineMajor indexes in the U.S. all fell at least 1.3% on Friday, tumbling as tech stocks took a dive that contributed to a poor day for the Nasdaq, which dropped over 4% amid the selloff.Major indexes in the U.S. fell at least 1.1% on Friday. (Photo by Michael M. Santiago/Getty Images)Getty ImagesKey Factssotck The Nasdaq took the hardest hit of any index Friday, tanking 4.1% and erasing nearly a month’s worth of gains.The S&P 500 closed down 2.6%, bringing its weekly performance to a nearly 2.6% loss and ending nine straight weeks of gains.The S&P 500 is still up 1.7% in the last month of trading.Several tech stocks plummeted, with Intel falling over 11%, Oracle dropping 9.5% and Nvidia tumbling nearly 6%.The Dow Jones Industrial Average dropped 1.3% on Friday, though the index is up over 3% in the last month of trading. if (!window.cnxel) { window.cnxel = {}; window.cnxel.cmd = []; var iframe = document.createElement('iframe'); iframe.style.display = 'none'; iframe.onload = function() { var iframeDoc = iframe.contentWindow.document; var script = iframeDoc.createElement('script'); script.src = '//cd.elements.video/player.js?cid=62cec241-7d09-4462-afc2-f72f8d8ef40a'; script.setAttribute('defer', '1'); script.setAttribute('type', 'text/javascript'); iframeDoc.body.appendChild(script); }; document.head.appendChild(iframe); const preloadResourcesEndpoint = 'https://cds.elements.video/a/preload-resources-ovp.json'; fetch(preloadResourcesEndpoint, { priority: 'low' }) .then(response => { if (!response.ok) { throw new Error('Network response was not ok', preloadResourcesEndpoint); } return response.json(); }) .then(data => { const cssUrl = data.css; const cssUrlLink = document.createElement('link'); cssUrlLink.rel = 'stylesheet'; cssUrlLink.href = cssUrl; cssUr...