Closing Bell: Chipotle Rises, Tech Stocks Lead Selloff, Lululemon Sinks

On this episode of Stock Movers: Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec. - Chipotle (CMG) shares traded higher against a broader market selloff after JPMorgan upgrades to overweight from neutral citing a “rare valuation opportunity” for the stock.  - AI-related tech stocks led a steep decline in equities on Friday. Broadcom's (AVGO) disappointing AI outlook triggered the selloff, with companies like Meta (META), Micron (MU), Arm (ARM) and Marvell (MRVL) seeing some of the biggest slides. - Lululemon (LULU) shares tumbled to their lowest level in eight years after the upscale yogawear company cut its annual forecast due to deteriorating performance in North America. The shares fell as much as 12% when markets opened Friday in New York, touching their lowest level since May 2018. The stock has now declined more than 40% since the start of the year, making it one of the worst performers in the S&P 500 Index over the period.See omnystudio.com/listener for privacy information.