Markets Pull Back After AI Winners Slide; S&P Falls From Record Highs — Dec. 12, 2025

Shares of high-profile companies tied to Wall Street’s artificial-intelligence surge slid again on Friday, knocking major U.S. stock indexes off recent record highs.

The S&P 500 fell 1.1% from its all-time peak, logging its weakest session in three weeks. Technology-sector weakness weighed most heavily: the Nasdaq composite led the decline, while the Dow Jones Industrial Average eased from the record it set the day before. Broadcom was a notable drag on the market even after reporting quarterly profit that topped analysts’ expectations. Meanwhile, rising Treasury yields added extra pressure on stocks.

On Friday

Major index moves:

• The S&P 500 fell 73.59 points, or 1.1%, to 6,827.41.
• The Nasdaq composite fell 398.69 points, or 1.7%, to 23,195.17.
• The Dow Jones Industrial Average fell 245.96 points, or 0.5%, to 48,458.05.
• The Russell 2000 of smaller companies fell 39.15 points, or 1.5%, to 2,551.46.

For the Week

• The S&P 500 was down 42.99 points, or 0.6%.
• The Dow was up 503.06 points, or 1.0%.
• The Nasdaq was down 382.96 points, or 1.6%.
• The Russell 2000 was up 29.97 points, or 1.2%.

Year-To-Date Performance

• The S&P 500 is up 945.78 points, or 16.1% for the year.
• The Nasdaq is up 3,884.38 points, or 20.1% year-to-date.
• The Dow is up 5,913.83 points, or 13.9% year-to-date.
• The Russell 2000 is up 321.30 points, or 14.4% year-to-date.

Investors will likely watch Treasury yields and upcoming economic data for clues about whether the recent pullback in AI-linked stocks and broader technology names will continue or stabilize early next week.