On March 26, 2026, Meta CEO Mark Zuckerberg arrives for a meeting at the Capitol.
Andrew Harnik | Getty Images
A bad week for stocks was particularly tough for tech investors, as the Nasdaq posted its worst weekly decline since April 2025. meta and micron It was a double-digit decline, but the pain was felt across the board as energy prices rose on concerns about war with Iran.
The Nasdaq fell 3.23% for the week. The last time the tech-heavy index saw such a decline was in April, after President Donald Trump’s threat of sweeping tariffs nearly sent markets into a panic.
Google’s parent company alphabet down nearly 9%, microsoft It’s down nearly 7% this week. Nvidia and Amazon Each fell about 3%. tesla It fell nearly 2%. Some of the big tech companies apple It remained at an all-time high and rose slightly this week.
Meta had its worst week in the group, falling more than 11% after two painful court defeats added to the social media company’s challenges. Both trials (one in Santa Fe, New Mexico, the other in Los Angeles) pointed to the struggle Meta faces to adequately police Facebook and Instagram, which remain major sources of funding, as the company goes after Google, OpenAI and Anthropic in the artificial intelligence space.
Meanwhile, investors have exited memory maker Micron, which has been a standout performer in the market over the past year, due to supply shortages due to surging demand for AI processors.
Micron shares are down more than 15% this week, but are still up nearly 300% over the past 12 months. The sell-off began last week after Micron’s strong second-quarter results. Revenue nearly tripled to $23.86 billion in the latest quarter, and the company issued strong guidance predicting gross margins of about 80% for the next quarter.
“Memory today is in very tight supply, and we can’t easily ramp up supply, and that’s clear from these results,” Micron CEO Sanjay Mehrotra told CNBC’s “Squawk on the Street” after the report.
But Micron’s results did nothing to soothe Wall Street’s nerves, as global markets feel the pain of rising fuel costs and uncertainty about when the Middle East conflict will end.
Oil prices closed at a three-year high on Friday as the Strait of Hormuz accident worsened investors’ concerns about energy supplies. President Trump suggested in a post on Truth Social that he is seeking to end the Iran war, as rising costs weigh on sentiment and pose a major problem for Congressional Republicans ahead of the midterm elections.
As investors go crazy about technology this week, all eyes are on what the world’s richest man, Elon Musk, and his multitrillion-dollar company will do next. SpaceX, which was valued at $1.25 trillion last month after merging with Musk’s xAI, is expected to soon file for what could be the largest IPO in history. And Mr. Musk’s electric car company Tesla is scheduled to report quarterly deliveries next week.
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