Nov. 6 (UPI) -- U.S. stocks ended mixed Friday as technology shares recovered from the previous day's steep sell-off, lifting the Nasdaq Composite more than 1%.
Still, all three major indexes recorded their fourth consecutive week of losses.
The tech-heavy Nasdaq rose 1.09%, closing at 24,579.42, while the S&P 500 gained 0.31% to finish at 7,376.86. The Dow Jones Industrial Average fell 237.33 points, or 0.46%, to close at 51,285.73.
Despite Friday's gains, the S&P 500 lost 2.7% for the week, its biggest weekly decline since early April 2025. The Nasdaq dropped 3.4%, while the Dow fell 0.9%.
Technology stocks led Friday's recovery after Thursday's widespread selling sent the Nasdaq into correction territory, more than 10% below its recent high.
The S&P 500 fell 4.4% during Thursday's session, while the Dow lost more than 1,800 points, or 3.4%.
Investors have grown increasingly concerned about the pace of spending on artificial intelligence infrastructure and the valuations of companies benefiting from the technology's expansion.
Shares of Nvidia gained more than 3% Friday after plunging more than 9% Thursday, while Micron Technology rose 5% following a 17% decline. Advanced Micro Devices climbed 11%, Intel gained nearly 7% and Broadcom advanced more than 2%.
The recovery followed heavy losses among major technology companies that erased approximately $1 trillion in combined market value from the so-called Magnificent Seven stocks Thursday.
"The scale of the falls in some of the market's biggest names has been striking," Quilter portfolio manager Stuart Clark told CNBC . "It also highlights the concentration risk that has built up in U.S. equity markets."
Clark said the dominance of a relatively small group of technology and semiconductor companies has increased the impact of their price swings on major indexes.
Concerns over artificial intelligence spending intensified following Democratic victories in Tuesday's midterm elections, raising questions about possible restrictions on data center construction.
Several newly elected Democratic officials have called for greater oversight of the rapidly expanding facilities, which require substantial electricity and water resources.
President Donald Trump defended the artificial intelligence industry Friday, saying he supports continued development of the technology and would work with states to encourage its expansion.
