S&P 500-1.23%▼: Broad benchmark fell, with weakness concentrated in large-cap tech and semiconductor names. Nasdaq-2.14%▼: Tech-heavy index posted a larger decline as chip and AI-related shares led losses. Russell 2000-0.81%▼: Small-cap benchmark slipped, with outsized microcap drawdowns among a number of OTC and thinly traded names. Dow-0.98%▼: Blue-chip gauge declined as industrials and financials softened while Healthcare showed relative strength. VIX+16.23%▲: 19.34, a notable intraday jump coinciding with equity weakness. Crypto: BTC $66,063 and ETH $1,925, trading close to recent ranges after volatile weekly moves. What's driving the market this week Heightened debate over the pace and funding of AI buildout has coincided with profit-taking in semiconductors and select mega-cap tech names, squeezing indices with large tech weights. Renewed moves to resurrect broad tariff authorities and new trade investigations have introduced additional policy uncertainty for globally exposed sectors, contributing to underperformance in cyclicals and exporters. (Word count: 197)