Major U.S. stocks ended Friday with broad declines, led by declines in mega-cap and large-cap technology and financial names. Marvell Technology Group (MRVL) led the losses among mega-cap stocks, falling 9.92% to $108.60, while PayPal Holdings (PYPL) slumped 12.43% to $62.35 after reports that a $50 billion takeover pursuit by Advent and Stripe had been abandoned.
Mega-cap chipmakers also retreated, with Kla-Tencor (KLAC) down 4.07% to $1,023.50, Applied Materials (AMAT) falling 3.74% to $256.80, GE Vernova (GEV) declining 3.55% to $38.20, and Texas Instruments (TXN) dropping 3.36% to $189.40. The declines extended pressure on the broader technology sector, which had already faced volatility earlier in the week.
In the large-cap segment, PayPal’s 12.43% drop was the most pronounced, compounding losses after the reported collapse of a potential $50 billion acquisition. Iris Energy (IREN) fell 13.61% to $1.75, Rubrik (RBRK) declined 11.59% to $18.20, Hut 8 Mining (HUT) dropped 8.91% to $3.15, and dMY Technology Group III (IONQ) fell 8.67% to $12.40. Semtech (SMTC) also retreated 7.87% to $31.20.
Mid-cap stocks saw mixed performance, with Elastic (ESTC) surging 18.98% to $145.30 following a strong first-quarter earnings beat and upbeat guidance. Gap Inc (GAP) rose 12.43% to $14.50, while TKB Critical Tech 1 (SHAZ) fell 11.96% to $10.10, Churchill Capital (INFQ) declined 10.37% to $11.20, CleanSpark (CLSK) dropped 9.81% to $15.60, and Ondas (ONDS) fell 9.43% to $2.10.
Small-cap stocks extended declines, with MVLL dropping 20.06% to $12.30, Canaan (CAN) falling 15.71% to $2.80, Willow Lane Acquisition (BRUN) declining 15.43% to $10.50, CONL down 15.0% to $9.80, MSTU falling 14.59% to $11.20, and MSTX dropping 14.44% to $10.90. Cantor Equity Partners III (AIIR) also fell 12.12% to $12.70.
