Nasdaq drops 2.7%, Dow sinks 450 points in losing week
Selling accelerated for U.S. equities during the final hour of trading as tech weakness continued to roil the broader market sending stocks lower for the day and week.
The Nasdaq Composite fell 2.7% and the S&P 500 was lower by 1.8%, while the Dow Jones Industrial Average fell 450 points or 1.3%.
All three of the major averages posted the worst weekly drop since March 2020 for the Nasdaq and S&P, the worst since October 2020 for the Dow.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
I:DJI | DOW JONES AVERAGES | 34265.37 | -450.02 | -1.30% |
SP500 | S&P 500 | 4397.94 | -84.79 | -1.89% |
I:COMP | NASDAQ COMPOSITE INDEX | 13768.921815 | -385.10 | -2.72% |
The selling continued in technology stocks, with Netflix down more than 21% after posting weaker-than-expected subscriber growth. The drop is the worst percentage loss