Nasdaq ends wild day flat after Big Tech reversal

(CNBC) — It was one of the wildest days of the year for the U.S. stock market with technology shares as the battleground. Big Tech took a big hit to start the day on concerns about rising inflation and high valuations. The selling eventually spread to the rest of the market as the day went on.

But in an odd twist, tech shares rebounded in the afternoon as investors went back into names like Amazon and Netflix and left the rest of the market in the red.

The tech-heavy Nasdaq Composite eventually ended the roller-coaster session down less than 0.1% at 13,389.43 after shedding 2.2% at its session low. The Dow Jones Industrial Average dropped 473.66 points, or 1.4%, to 34,269.16 for its worst day since February 26. Travelers Companies and Home Depot led the declines in the 30-stock Dow. The S&P 500 slid 0.9% to 4,152.10 as 10 out of 11 sectors registered losses.

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Author: WND News Services


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