S&P 500-0.26%▼: Closed at 7,386.31, modestly lower as Technology and Energy lagged while Basic Materials and Financial Services posted gains. Nasdaq-0.97%▼: Closed at 25,678.82 after broad weakness in semiconductor and AI-exposed names following a major chip supplier’s guidance that fell short of elevated expectations. Russell 2000+0.41%▲: Closed at 2,867.02, outperforming as small-cap cyclicals and materials rose. Dow+0.17%▲: Closed at 50,872.11, held modest gains as Financial Services and select Industrials advanced. VIX+5.02%▲: Ended at 19.87, higher on the session as option-implied volatility increased. Crypto: BTC trading near $63k and ETH around the mid-$1,600s, largely steady after recent intraweek swings. What's driving the market this week A top-line guidance shortfall from a major semiconductor supplier triggered an AI/chip-led selloff that pressured the Nasdaq and Technology sector, then partially reversed during the week as some chip names rebounded. High-profile analyst and media commentary has highlighted stretched valuations and technical risks in large-cap tech, contributing to price sensitivity in momentum names. Sector divergence left cyclical and commodity-linked groups, notably Basic Materials and Financial Services, supporting gains in the Russell 2000 and the Dow while Technology and Energy drove headline index weakness.