Tech Stock Rally Loses Steam in Late-Day Selloff: Markets Wrap

The rally in tech stocks took a breather Friday, pulling back from this week’s record highs. AI optimism was countered by President Donald Trump’s warning to Hamas and signs of a weakening economy as a US government shutdown extended into its third day. The dollar slumped.

The Nasdaq 100 fell 0.4%. Palantir Technologies Inc. was among the biggest decliners, the stock tumbled 7.5% after a report that the defense firm’s battlefield communications system was seriously flawed, a claim the company refuted. Despite late-day weakness, the S&P 500 eked out a fractional gain, leaving intact its longest winning streak since July. The broader market ...