Tech stocks are poised to finish a tough week on a down note as chip and AI-related shares come under new pressure.

The Nasdaq composite is down 1% in midday trading, which would leave the tech-heavy benchmark with a loss of more than 3% for the week. The S&P 500 is down about 0.3% Friday, while the Dow industrials are lower by 0.2% but still up for the week.

The AI trade remains on fragile footing, with CoreWeave shares coming under renewed pressure today. The Nvidia-backed compute provider has been at the center of this week's tech rout, as investors fret over how higher borrowing costs will hit the most highly-leveraged players in the data-center buildout.

Markets had been steadying earlier, while investors pared bets that the Fed will raise interest rates this month after comments from Chairman Kevin Warsh.

Speaking overnight in Bangkok, Warsh did little to dispel investors' view that the Fed isn't in a rush to raise rates despite a string of hotter-than-expected inflation readings this week.

The dollar retreated along with rate-hike expectations. Benchmark 10-year Treasurys are flirting with their best week since February

Brent crude prices are hovering around $105 a barrel.