Stocks fell sharply in volatile trading on Thursday as the rout in tech — the best-performing sector in the market — resumed after a one-day respite.
The Dow Jones Industrial Average closed 405.89 points lower, or 1.45%, at 27,534.58. Earlier in the session, the Dow was up more than 200 points. The S&P 500 slid 1.8% to close at 3,339.19. The Nasdaq Composite dropped 2% to 10,919.59 after surging as much as 1.4%. It was the fourth decline in five sessions for the major averages.
Apple shares were down 3.3% after rising as much as 2.7%. Tesla, which was up more than 8% at one point, closed just 1.4% higher. Netflix and Microsoft were both lower along with Facebook and Amazon. Nvidia shares lost 3.2%. The S&P 500 tech sector dropped 2.3%.