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U.S. stocks close mixed as Nasdaq falls 0.64%

The Dow rose 0.46% and the S&P 500 added 0.05%, while semiconductor shares slid sharply and Tesla posted its biggest weekly drop since 2022.

Summary

U.S. stocks finished mixed on Friday, with the Nasdaq falling 0.64% as semiconductor shares came under pressure. The Dow rose 0.46% and the S&P 500 gained 0.05%. The Philadelphia Semiconductor Index dropped 4.25%, with SanDisk down more than 10%, Coherent over 9%, SK hynix over 8%, and Kioxia ADR over 14%. Tesla fell more than 2% on the day and was down nearly 18% for the week, marking its biggest weekly drop since 2022.

Terms & Concepts
  • Philadelphia Semiconductor Index: A stock index tracking major U.S.-listed semiconductor companies, often used as a barometer for the chip sector.
  • ADR: American depositary receipt, a U.S.-traded security representing shares in a non-U.S. company.