Home Breaking News Nasdaq Composite pivots sharply lower in afternoon trade

Nasdaq Composite pivots sharply lower in afternoon trade


The Nasdaq on Thursday afternoon turned sharply lower. The Nasdaq Composite Index

COMP, -0.63%

was most recently down 72 points, or 1.1%, as the index was jolted suddenly lower, with some investors and traders citing a combination of concerns about valuations and market participants taking some money off the table following a brisk run for the high-flying sector. The abrupt retreat for the tech-centric gauge came as the other main equity benchmarks pared an earlier advance. All three equity gauges notched all-time intraday trading highs at the open, but the S&P 500 index

SPX, -0.10%

was most recently down 0.5% at 2,464 and the Dow Jones Industrial Average

DJIA, +0.39%

traded flat at 21,710, buoyed by gains in Verizon Communication

VZ, +7.68%

while Dow component and tech-giant Apple Inc.

AAPL, -1.89%

sold off by 2.7%, cutting about 30 points from the blue-chip gauge. The popular tech-focused exchange-traded fund, the Technology Select Sector SPDR ETF

XLK, -0.38%

was trading down 1% in recent trade.

Read the full story:
Stock market retreats from records as tech stocks swing to losses

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