Meta Platform Chief Executive Mark Zuckerberg (C) arrives to meet with US Senator Majority Leader John Thune (R-SD) on Capitol Hill in Washington, DC on March 26, 2026.
Andrew Harnik | getty images
A bad week for stocks was especially tough for tech investors, as the Nasdaq suffered its worst weekly decline since April 2025. meta And micron Double-digit declines were seen, but the pain was felt across the board as concerns about a US-Iran war pushed energy prices higher.
The Nasdaq dropped 3.23% for the week. The last time the tech-heavy index saw such a selloff was in April, when President Donald Trump’s threat of sweeping tariffs nearly sent the market into a panic.
google parent alphabet fell almost 9% and Microsoft There is a decline of about 7% this week NVIDIA And Amazon Each declined by about 3%. Tesla Slipped about 2%. Among megacap tech companies, Apple It was the best performer registering slight gains during the week.
Meta had the worst week of the group, with the social media company’s challenges further compounded by two harsh court defeats, which led to a decline of more than 11%. Both tests — one in Santa Fe, New Mexico, and the other in Los Angeles — pointed to the struggles Meta has faced to adequately police Facebook and Instagram, which remain primary cash engines as the company pursues Google, OpenAI and Anthropic in artificial intelligence.
Meanwhile, investors shunned memory maker Micron, which has been one of the market’s standout performers last year, due to shortages caused by surging demand for AI processors.
Micron shares fell more than 15% during the week, although they are still up nearly 300% over the past 12 months. The selloff began last week after Micron’s stellar second-quarter earnings report. Revenue nearly tripled to $23.86 billion in the latest quarter, and the company issued strong guidance for the next quarter, estimating gross margins at around 80%.
“Memory is in very short supply today and supply can’t be replenished so easily, and you’re seeing that in our results,” Micron CEO Sanjay Mehrotra said on CNBC’s “Squawk on the Street” after the report.
But with global markets feeling the pain of rising fuel costs and uncertainty over when the conflict in the Middle East will resolve, Micron’s results did little to calm Wall Street nerves.
Oil prices closed at their highest in more than three years on Friday as incidents in the Strait of Hormuz heightened investors’ energy supply concerns. In a Truth Social post, President Trump suggested he wants to end the war in Iran because rising costs are weighing on sentiment and creating a growing problem for Republicans in Congress in the midterm elections.
With investors taking a breather on tech this week, the focus is on what’s next for the world’s richest man, Elon Musk, and his trillion-dollar companies. SpaceX, which was valued at $1.25 trillion last month after its merger with Musk’s XAI, is expected to file for an IPO very soon in what could be the largest offering on record. And Musk’s electric vehicle company Tesla is scheduled to report quarterly deliveries next week.
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