US stocks slid on Thursday as weakness among large tech stocks dragged down major market averages.
The tech-heavy Nasdaq Composite fell 2.47% for its worst day since September, closing at 15,180.43. The S&P 500 shed 0.87% to 4,668.67. The Dow Jones Industrial lost a modest 29.79 points, or 0.08%, after being up more than 200 points earlier in the session, closing at 35,897.64.
Thursday’s trading action was marked by struggles for some large tech names, with Apple falling 3.9% and major semiconductor stocks like AMD and Nvidia dropping nearly 5.4% and 6.8% . Shares of Adobe fell more than 10% after the company’s forward guidance came in lower than analysts expected.
The Nasdaq fell more than 1% on Monday and Tuesday and is now down nearly 3% for the week.