Tech’s sudden sell-off continues; Nasdaq sinks 10% in 3 days

Leon Montana
Trader Leon Montana works on the floor of the New York Stock Exchange, Friday, Feb. 28, 2020. Stocks are opening sharply lower on Wall Street, putting the market on track for its worst week since October 2008 during the global financial crisis. (AP Photo/Richard Drew)

NEW YORK (AP) — Big technology stocks tumbled again on Tuesday, continuing the Icarus-like flight path for companies that just a week ago were the high-flyers carrying Wall Street to record heights.

The S&P 500 fell 2.8% and clinched its first three-day losing streak in nearly three months. Apple, Microsoft and Amazon were among the Big Tech stocks to sink more than 4%, torpedoing broad market indexes. The Nasdaq composite, which is packed with tech stocks, dropped 4.1% and is down 10% since Wednesday. That’s when it set its last record high. Crude oil prices and Treasury yields also weakened.

Categories: ConnectCenter1-Business, National News