Nasdaq Composite on track for worst single-session drop since Aug. 17
The Nasdaq Composite Index was trading sharply lower on Thursday as investors unloaded technology stocks, putting the tech-heavy gauge on track to post its worst decline since Aug. 17, according to FactSet Data. The Nasdaq Composite was off about 65 points, or 1%, at 6,723. The drop came as the Dow Jones Industrial Average was slumping the most since Sept. 5, down 123 points, or 0.5%, at 12,442. Meanwhile, the S&P 500 index was off 0.6% at 2,579, also its worst one-day drop since Sept. 5. Investors were awaiting details on reforms to tax policy, which have been a factor contributing to a recent uptrend in equities, along with better-than-expected corporate earnings.
-Mark DeCambre; 415-439-6400; AskNewswires@dowjones.com
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