Wall Street just had its worst week since late June as a tech sell-off fed worries about AI spending.

The S&P 500 fell 1.1% on Friday to 7,659.44, wiping out the prior week’s record-setting gains.

The Nasdaq sank 2.1% Friday and about 4.5% for the week, while the Dow actually gained 0.7% for the week.

Chipmakers led the drop: AMD fell 6%, Intel 5.8%, Micron 5.6% and Broadcom 4.5% on Friday.

The iShares Semiconductor ETF fell for a ninth straight day, its longest losing streak in two decades.

AI cloud firm CoreWeave lost about 24% for the week amid worries over its more than $51 billion in debt.

Investors fear tech giants may struggle to keep borrowing for AI as bond yields hit multi-year highs.

The VIX volatility index rose above 20, and Brent crude settled at $109.86 amid US–Iran tensions.

Big Tech earnings, starting with Meta and Tesla, will now test whether AI returns justify the spending.

Read the full article for more details on Wall Street’s worst week since June.