Skip to content

Meta, Nvidia Pummeled in Nasdaq 100’s Worst Week in 8 Months

  • Tech-heavy index sank 5.8% this week amid stubborn inflation
  • Nine companies in the Nasdaq 100 made new lows on Friday
Stock market information at the Nasdaq MarketSite.
Stock market information at the Nasdaq MarketSite.Photographer: Michael Nagle/Bloomberg
Updated on

Investors betting that the worst is over for battered technology stocks got a painful reminder this week that there’s more gloom in store.

The Nasdaq 100 Stock Index sank 5.8% in its worst week since January, after an inflation report on Tuesday suggested prices could stay higher for longer than anticipated. The loss was the index’s third weekly drop of 4% or more since the summer rebound ended in mid-August.