So Friday's market selloff was pretty brutal, especially if you were holding tech. All three major indexes went red - the Dow dropped 1.1%, Nasdaq fell 0.9%, and the S&P 500 slid 0.4%. Typical risk-off day, but the magnitude caught a lot of people off guard.

What really did the market crash lower was the tech sector getting hammered. Semiconductor stocks led the retreat as investors started questioning whether AI spending can actually justify these valuations we've been seeing. Microsoft dropped 2.2% and Salesforce fell 2.4% as traders reassessed how quickly companies can turn AI investments into real revenue. The whole narrative around AI monetization seems to be shifting from "buy everything AI-related" to "actually show me the profits."

Then you had geopolitical tensions with Iran adding fuel to the fire - oil prices jumped roughly 2% on supply disruption concerns. Brent crude hit $72.48 and WTI climbed to $67.02. Meanwhile, producer-side inflation came in hotter than expected with PPI up 0.5%, which didn't help sentiment either.

Interestingly, defensive sectors like Healthcare and Energy actually gained - XLV up 1.8% and XLE up 1.7%. The VIX spiked 6.6% to 19.86, showing fear was definitely in the market. Decliners beat advancers by about 1.3-to-1 on the NYSE.

For the week, the S&P 500 was down 0.4%, Nasdaq dropped around 1%, and the Dow fell 1.3%. February was even rougher - Nasdaq posted a 3.4% decline, steepest since March 2025. The market's definitely in a more cautious mode right now.