Wall Street slides as technology stocks weaken in the market

new York – Stocks fell in morning trading Friday as Wall Street wraps up a holiday-shortened week.

The S&P 500 fell 1.4%, with more than 80% of stocks in the benchmark index losing ground. Nevertheless, the index managed to maintain its modest weekly gain.

The Dow Jones Industrial Average fell 402 points, or 0.9%, to 42,945 at 10:41 a.m. Eastern time. The Nasdaq Composite fell 2%. Both the Dow and Nasdaq are also holding on to their weekly gains.

Technology stocks were the biggest drag on the market on Friday. Semiconductor giant Nvidia fell 3.2%. It has an outsized influence on indices due to its huge valuation. Other big tech stocks that lost ground included Microsoft, down 2.2%.