U.S. stocks experienced a significant decline as the post-election rally lost momentum and investors reacted to Federal Reserve Chairman Jerome Powell's cautious stance on rate cuts. The Nasdaq 100, represented by $QQQ, marked its fifth consecutive losing day, closing down 3.4% for the week. This streak is the longest of the year for the index. Tesla shares fell more than 5%, while Rivian and Ford also saw declines of 10.5% and 0.2%, respectively. The Dow Jones Industrial Average dropped 200 points, contributing to the overall negative sentiment in the market.