US stock markets closed slightly lower on Friday after investors continued selling technology and AI-related stocks, shifting money into safer sectors like healthcare and consumer staples.
The S&P 500 slipped 0.1%, the Nasdaq Composite fell 0.2%, and the Dow Jones Industrial Average lost around 70 points, or 0.1%, by the close.
Technology stocks remained under pressure after a report said OpenAI may delay its planned IPO until next year, citing SpaceX's weak stock performance and recent volatility in AI-related stocks.
Chip stocks fell sharply, with Micron Technology dropping 4%, AMD losing 2%, and Intel falling more than 3%.
Healthcare stocks, however, attracted fresh buying, with Eli Lilly jumping 7%, Johnson & Johnson gaining more than 3%, and AbbVie rising over 1%.
Other defensive sectors also performed well, with consumer staples rising more than 1%, financial stocks gaining 0.8%, and utilities climbing 0.4%.
