"Tech Slump Drives Dow and Nasdaq Down Over 400 Points"
The Dow Jones Industrial Average fell over 400 points, and the Nasdaq suffered its worst day in three weeks as technology shares, particularly Apple, slumped. Investors remained cautious ahead of remarks by Federal Reserve Chair Jerome Powell and labor-market data, seeking clues on interest-rate paths and the economy's health. Megacap tech stocks dragged the market from recent record highs, and Bitcoin briefly hit a new high before retreating. The selloff was seen as a "healthy" consolidation, with investors awaiting economic data and Powell's updates. Target Corp. shares surged over 12% after strong fourth-quarter earnings, while MicroStrategy Inc. shares fell 21.2% due to its bitcoin exposure and convertible debt plan.
- Dow Jones ends down over 400 points and Nasdaq suffers worst day in 3 weeks as Apple shares slump MarketWatch
- Dow tumbles more than 400 points as tech woes rattle Wall Street CNN
- Tech-heavy Nasdaq leads Wall Street lower as megacaps, chips slide Reuters
- Stocks Are Falling Ahead of Powell Testimony Barron's
- S&P 500 edges lower as investors hold their breath ahead of economic data Yahoo Finance
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