Key Takeaways
- A number of high-flying tech stocks tumbled Friday, Oct. 10, 2025, amid worries about worsening U.S.-China relations, while a snack and soft drink giant extended its post-earnings gains.
- Advanced Micro Devices and other semiconductor firms were among the S&P 500’s biggest decliners.
- PepsiCo stock added to its climb in the wake of a strong earnings report driven by international growth.
High-flying tech stocks led the S&P 500 lower Friday, Oct. 10, 2025, amid worries about worsening U.S.-China relations. Meanwhile, a snack food and soda maker built on its momentum in the wake of an upbeat quarterly report.
Major U.S. equities indexes plunged after President Donald Trump threatened to hike tariffs on imports from China and suggested he may cancel his upcoming meeting with Chinese President Xi Jinping in response to China’s moves to curb rare earths exports. The S&P 500 slumped 2.7%, and the tech-heavy Nasdaq dropped 3.6%. The Dow lost 1.9%. For more reporting from Investopedia on today’s market moves, see here.
Chip design software firm Synopsys (SNPS), Advanced Micro Devices (AMD), Microchip Technology (MCHP), Teradyne (TER), and other semiconductor-related stocks were among the S&P 500’s biggest decliners. AI favorite Nvidia (NVDA) finished nearly 5% lower after climbing to a fresh intraday record ahead of Trump’s comments.
Shares of Tesla (TSLA) and Amazon (AMZN) also dropped about 5% amid broad-based declines, with the tech sector taking the heaviest hit. Consumer staples marked the only sector in the S&P 500 to post gains.
PepsiCo (PEP) shares rose nearly 4% to secure the S&P 500’s top performance on Friday. The stock added to its jump in the prior session after the snack and soft drink giant posted better-than-expected quarterly results and named a new chief financial officer. Growth in international markets helped drive Pepsi’s strong performance, despite declining volumes in North America.
Shares of auto parts retailers clawed back some of the steep losses they suffered over the past week following a Chapter 11 bankruptcy by supplier First Brands. The collapse of the company behind a number of major brands for products like filters, brakes, and wipers could disrupt supply and pricing for the parts sellers. AutoZone (AZO) shares recovered 2.7% Friday after the company authorized the repurchase of an additional $1.5 billion worth in its stock. O’Reilly Automotive (ORLY) stock was up 2.4%.
