Stocks mostly fell on Thursday as tech shares added to steep losses seen in the previous session while global trade fears lingered.
The tech-heavy Nasdaq dropped 0.9 percent to 7,922.73 as Amazon and Apple fell 1.8 percent and 1.7 percent, respectively. The index is on track to fall 2.5 percent for the week and has posted three straight days of losses.
The S&P 500 declined 0.4 percent to close at 2,878.05 as tech fell 1 percent. Facebook shares also declined 2.8 percent on Thursday, while Alphabet dropped 1.3 percent.The Dow Jones Industrial Average eked out a slight gain, however, rising 20.88 points to 25,995.87.
Chipmakers were among the worst-performing tech stocks. Micron Technology dropped 10 percent, while Lam Research and Applied Materials fell 6.7 percent and 5.3 percent, respectively. These stocks fell after a Morgan Stanley analyst and an executive at KLA-Tencor issued demand warnings for the semiconductor space.
"Tech did get a head of itself recently," said Jeff Kravetz, regional investment director at U.S. Bank Wealth Management. "Investors are a bit cautious right now given several factors," including trade and emerging-market risk. So "the natural place to pull back from is tech."
Tech shares are up more than 16 percent this year, outperforming the broader market. However, they are down more than 2 percent this week. On Wednesday, they fell 1.5 percent.