The Nasdaq Composite was facing a fresh selloff Friday, capping a tumultuous week for the benchmark, as investors sold technology and technology-related shares, amid growing concerns that higher borrowing costs are in store for the U.S. economy. The Nasdaq Composite COMP, -1.92% was trading 2.6% lower at 14,979, falling below 15,000 for the first time since Oct. 15, FactSet data show. The decline for the index comes amid a broader decline in the S&P 500 index SPX, -0.84% and the Dow Jones Industrial Average DJIA, -0.17%, after a weaker-than-expected November jobs report was seen as unlikely to stay the hand of a Federal Reserve that seems intent on tamping down inflation.
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