Nasdaq posts worst week since March as tech shares slide

Stocks fell Friday, extending declines after a selloff a day earlier led the S&P 500 to its worst single-session drop in nearly three months.

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While ending the day off the lows of the session, each of the three major indices posted steep declines for the week, as Thursday’s rout took out gains from earlier sessions this week. The S&P 500 ended the week 2.3% lower, the Dow fell 1.8% and the Nasdaq dropped nearly 4% for its worst week since March.

The Nasdaq underperformed especially on the day, falling as much as 5% intraday Friday before paring losses, as tech stocks continued to lag. The index on Thursday had dipped back below 12,000, after crossing that threshold for the first time every just a day earlier. Apple (AAPL) shares steadied after an 8% drop on Thursday. Amazon (AMZN) and Zoom Video Communications (ZM) – both darlings of the

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