Tech stocks plunge as rally reverses | Business


US stocks suffered their biggest daily drop in nearly three months last night, as the rally of US tech companies falters.

The tech-focused Nasdaq index fell 5%, or 598.34 points, to 11,458.10 on its worst day since March 16 – although that still left it with a gain for the 27.7% year so far.

The larger S&P 500 Index, home to 500 of America’s largest listed companies, fell 3.5%, or 125.78 points, to 3,455.06, the worst day since mid-June, but it is up 6.9% since the start of the year. The Dow Jones Industrial Average fell 2.8%, or 807.77 points, to 28,292.73, its largest daily


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