Saturday, May 28

Nasdaq slides 3% as tech stocks weigh

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The Nasdaq index tumbled over 3% on Thursday, dragged down by megacap growth stocks and on track to erase most of the gains recorded in the previous session’s rally after the Federal Reserve’s less aggressive tone.

At 10:10 am ET, the Dow Jones Industrial Average was down 612.08 points, or 1.80%, at 33,448.98, the S&P 500 was down 94.19 points, or 2.19%, at 4,205.98, and the Nasdaq Composite was down 402.84 points, or 3.11 %, at 12,562.02. (Reporting by Devik Jain in Bengaluru; Editing by Sriraj Kalluvila)

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