Nasdaq heads for fourth day in the red as tech stocks slump

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The Nasdaq Composite was headed for a fourth day in the red on Friday, according to Dow Jones Market Data.

A pullback in shares of Big Tech giants has contributed to the weakness in the tech-heavy index this week. Nvidia Corp. was down 3.8% so far this week, per recent trades on Friday. Tesla Inc. was down 2.6%, although shares of the electric-vehicle maker were trading higher on Friday, according to FactSet data.

Microsoft Corp., Apple Inc., Amazon.com Inc., Alphabet Inc. and Meta Platforms Inc. were all also sitting on weekly losses, with Meta down more than 4%, making it the worst performer among the Magnificent Seven stocks. Although shares of all seven companies were lower on the week.

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