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Global stocks slump amid continued tech sell-off

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'The market was very extended coming into this and it was overdue for a pullback. It's normal and healthy,' says analyst Adam Sarhan.

Stocks went into a skid worldwide on Friday, September 4, as Wall Street kicked off another round of tech bashing in what analysts say was an overdue correction.

, owing in large part to temporary hiring for the national census. But a modest overall gain in jobs indicated a slowing recovery, analysts said. "The market was very extended coming into this and it was overdue for a pullback. It's normal and healthy," Adam Sarhan of 50 Park Investments told Agence France-Presse.

Amazon and Facebook were among the major losers in the session, dropping close to 3%, although Apple recovered enough to close flat.

 

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