Wall Street experienced a broadly negative trading session on Friday, driven by a surge in oil prices triggered by a hurricane in the Gulf of Mexico and a decline in technology stocks, particularly those linked to artificial intelligence. The Nasdaq Composite Index was the hardest hit, falling 345.35 points, or 1.3 percent, to close at 27,193.34. Meanwhile, the S&P 500 dropped 36.41 points, or 0.5 percent, finishing at 7,765.36.

Several major technology companies saw notable losses during the session. Sandisk, a producer of memory storage devices, declined by 4.9 percent, while Nvidia, a prominent chip designer, fell 2.9 percent. These declines in tech shares weighed heavily on the overall market performance, particularly within the Nasdaq, which is heavily tech-focused.

In contrast, the Dow Jones Industrial Average managed to post a modest gain, rising 51.77 points, or 0.1 percent, to end the day at 51,231.64. This resilience was partly attributed to strength in more cyclical and industrial sectors, which offset some of the weakness seen in technology stocks.

The upward pressure on oil prices came amid concerns about potential disruptions caused by the hurricane in the Gulf of Mexico, a key region for U.S. energy production. The rise in oil futures contributed to increased volatility across the market and raised concerns about input costs for various industries.

Overall, Friday’s trading highlighted investor sensitivity to rising commodity prices and their impact on growth-oriented sectors, particularly technology stocks that have been among the best performers earlier in the year. The combined effect of supply concerns in energy markets and profit-taking in the tech sector underscored the challenges facing equities as market participants weigh both economic and geopolitical risks.