Nasdaq falls more than 1% as tech plunges once again, Dow drops 400 points

to start the week as technology shares were under pressure following their worst sell-off in more than five months last week.

The Nasdaq Composite dropped 1.7% and the Dow Jones Industrial Average plunged 438 points, or more than 1.5%. The S&P 500 slid 1.6%. At one point, the Nasdaq had fallen more than 3% and the Dow fell as much as 600 points. "High valuations in the mega-cap stocks are stretched far beyond historical levels," said Bruce Bittles, chief investment strategist at Baird. "The technical indicators – high margin debt, fully invested mutual funds, CBOE options data showing record call volume, Wall Street letter writers at bullish levels -- pointed to excessive optimism in the market which often suggests a consolidation/correction phase is likely."plunged 12.

on tech stocks continuing to surge. The tech trade could lose some of its firepower if Softbank were to curb those bets. Semiconductor stocks were under pressure amid simmering U.S.-China trade tensions. Nvidia slid 1.1% and Micron lost 1.4%. Applied Materials dropped more than 5.8%. Advanced Micro Devices pulled back by 0.7%. The VanEck Vectors Semiconductor ETF traded 1.9% lower.On Friday, stocks snapped a five-week winning streak after a big reversal in major technology stocks. Steep losses in

The tech rise has no base but the covid fat money bags and the republican liars. Now the money bags are running dry, so be the tech stocks. The republican senate tries to repeat its stupidity again to fool braindead Americans.

Meanwhile, staffers at CNBC are rejoicing!

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Another ugly day for stocks as Nasdaq tumblesAll three major US stock indexes open in the red at the start of the shortened Labor Day trading week Its gonna crash. China gonna cash out their bonds Market adjustments are natural when Wallstreet looks nothing like Mainstreet, Fall. anyone in need of a stay-at-home job where you can earn $200-$500 weekly?
Source: cnnbrk - 🏆 393. / 55 Read more »

What to watch today: Nasdaq futures plunge as tech stocks continue to sinkTech stocks continued their rout, with Nasdaq futures tracking for an over 3% decline at Tuesday's open.
Source: CNBC - 🏆 12. / 72 Read more »

This ‘Nasdaq whale’ may have helped trigger the stock-market’s brutal routThe trigger for a seismic stock-market slump Thursday and Friday that has erased weeks of gains for a frothy U.S. stock market, may have been embattled... Little bounce early next week, and then the big sell-off. Get ready no no no. they’re an insignificant fraction of the names they’re in - let alone the market but the fake fear is welcomed. a great contrarian signal to power the market higher No, you have to blame a bunch of Robin Hood teenagers with $300 worth accounts, for a $4 billion tech bubble.
Source: MarketWatch - 🏆 3. / 97 Read more »

Another ugly day for stocks as Nasdaq tumblesAll three major US stock indexes open in the red at the start of the shortened Labor Day trading week Its gonna crash. China gonna cash out their bonds Market adjustments are natural when Wallstreet looks nothing like Mainstreet, Fall. anyone in need of a stay-at-home job where you can earn $200-$500 weekly?
Source: cnnbrk - 🏆 393. / 55 Read more »

Dow Falls 600 Points As Tech Sell-Off ContinuesThe Dow fell 600 points this morning as tech sell-off continues by skleb1234
Source: Forbes - 🏆 394. / 53 Read more »