Stocks tumbled on Friday as consumer sentiment plunged near all-time lows and investors panicked over AI spending – hammering tech stocks in their worst week since April.

The tech-heavy Nasdaq dropped 0.2% Friday, closing the week down 3% – its worst drop since the April launch of President Trump’s “Liberation Day” tariffs sparked a massive sell-off.

Concerns about the government shutdown – which entered its 38th day on Friday, setting a new record — sent monthly consumer sentiment to its lowest level in over three years.

The reading of 50.3 marked a drop of 6.2% on the month and about 30% from this time last year – near the worst-ever level for consumer sentiment, according to data released by the University of Michigan on Friday.

Along with worries about the shutdown, broader econom

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