From Investing.com:

The S&P and Nasdaq close lower after reaching record highs due to chip stock decline and mixed labor report with more jobs but higher unemployment rates. AI chip company Nvidia sees a 5.6% drop, while Broadcom sinks 7% and Marvell tumbles. Unemployment rate rises to 3.9% in February, while wage growth slows to 0.1%. Despite a brief opening surge, some signs of caution appear, with Costco’s shares falling 7.6% due to tepid demand. Next week’s CPI and retail sales data may provide insight on potential rate cuts. The S&P 500 lost 0.26% this week, with technology sector leading the drop.



Read more at Investing.com: Wall Street slips from records with Nasdaq leading declines By Reuters