The Nasdaq 100 Index fell 4.5% intraday, down more than 10% from its recent high.

The Nasdaq 100 Index dropped as much as 4.5% during Friday's U.S. trading session, falling over 10% from its recent peak and facing its third technical correction this year. This week, the index fell about 3% overall as disappointing earnings reports from Alphabet (GOOG.US), Amazon (AMZN.US), Intel (INTC.US), and ServiceNow triggered a sell-off in technology stocks. The market has begun to reassess the return on investment for AI, and the increased financing needs of technology companies have added to the sector's volatility. Market strategists point out that investors are no longer assuming that AI investments will necessarily yield high returns; instead, they are focusing on capital return rates and the ability to recoup invested principal. The last time the U.S. stock market experienced three or more 10% swings in one year was in 2022.