The US stock market remains only 3.4% below its all-time high (file)
Tech Stocks Sell-Off Drags Wall Street Toward Its Worst Day Since June
In short
Losses concentrated in technology shares are currently pushing major indices toward their sharpest single-day decline seen since June. Despite this pronounced weakness, the broader equity market has not broken its larger upward trend. Overall values sit just 3.4% below their all-time high, limiting the net damage of the retreat.
Key points
- Severe weakness within the technology sector can quickly impact broader equity performanc…: Severe weakness within the technology sector can quickly impact broader equity performance.
- Current market declines represent the steepest single-day downturn observed since this pa…: Current market declines represent the steepest single-day downturn observed since this past June.
- Major stock indices still remain within close striking distance of record peaks.: Major stock indices still remain within close striking distance of record peaks.