Live Nasdaq Composite: Stocks Fall, Yields Rise as Risk-Averse Trade Resurfaces

This article will be updated throughout the day, so check back often for more daily updates. 

U.S. stocks stumbled into the weekend Friday, with technology bearing the brunt of a broad pullback as Treasury yields pushed higher at the conclusion of the Trump-Xi summit. The S&P 500 pulled back 1%, the Nasdaq Composite gave up 1.4%, and the Dow dropped 336 points, or 0.7%. Inside tech, Intel (Nasdaq: INTC) took the hardest hit at 4%, with AMD (Nasdaq: AMD) and Micron (Nasdaq: MU) each surrendering 3%. Nvidia (Nasdaq: NVDA) wasn’t spared either, sliding 2%.

One tech gainer on the day is Microsoft (Nasdaq; MSFT) after hedge fund manager Bill Ackman hinted at a new position in the stock. Also, Cerebras, fresh off a jaw-dropping 68% first-day pop on the Nasdaq Thursday, cooled 3% as the IPO euphoria settled.

“The group has witnessed an extremely unsustainable move in recent weeks and remains vulnerable to profit taking regardless of the headlines,” wrote Adam Crisafulli of Vital Knowledge.

Treasury yields surged Friday, adding another layer of pressure. The 30-year rate punched through 5.1%, putting it on track for its highest reading since 2023. A string of inflation data released throughout the week painted a clear picture:  rising oil costs stemming from the ongoing Middle East conflict are reigniting price pressures, and with rates climbing, high-growth stocks find themselves in the crosshairs.

Here’s a look at where things stand as of morning trading:

Dow Jones Industrial Average: 49,664 Down 0.80%
Nasdaq Composite: 26,216 Down 1.6%
S&P 500: 7,417 Down 1.1%

Market Movers

Citi has taken a decidedly bullish stance on Nebius (Nasdaq: NBIS), lifting its price target to $287 from $169, the highest target on Wall Street, while keeping its Buy rating intact. The stock is up 0.30% today.

Starbucks (Nasdaq: SBUX) announced a restructuring in which it is cutting its staff by 300 jobs. SBUX stock is down fractionally on the day.