US stocks finished the week lower as semiconductor names dipped following the reveal of an artificial-intelligence model from a Chinese startup.
The tech-heavy Nasdaq 100 Index closed down 1.5 per cent, finishing its worst week in almost a month. Meta led the Magnificent Seven cohort lower. The Philadelphia Stock Exchange Semiconductor Index fell 1.6 per cent, widening its drop from a June record to 20 per cent, which meets a definition of a bear market.
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Bloomberg