The Nasdaq composite suffered one of its sharpest sell-offs in years Friday, wiping out $1.71 trillion in market capitalization in a single day — the biggest drop in value ever recorded for the exchange.

Investors reacted to stronger-than-expected economic data, rising interest-rate concerns, weakness in artificial intelligence-related stocks, and mounting geopolitical uncertainty.

The technology-heavy Nasdaq Composite fell 4.18%, marking its worst single-day decline since April 2025.

While the percentage decline was smaller than some of the most dramatic sell-offs during the COVID-19 market crash of 2020, the sheer size of the dollar loss exceeded previous records due to the enormous valuations of today’s technology giants.

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