Tech Slide Leads Stocks Sharply Lower

Dow gives up 344 points
By Newser Editors and Wire Services
Posted Mar 27, 2018 3:19 PM CDT
Tech Slide Leads Stocks Sharply Lower
Trader Fran O'Connell works on the floor of the New York Stock Exchange, Monday, March 26, 2018.   (AP Photo/Richard Drew)

(Newser) – A late-afternoon drop in technology stocks pulled indexes sharply lower on Wall Street, erasing much of a powerful rally from the day before, the AP reports. It was solid red in the technology sector Tuesday. Chipmaker Nvidia sank 7.8% following reports that the company was suspending its tests of self-driving cars following a recent fatality involving an Uber vehicle. Twitter sank 12% and Facebook fell another 5%. Safe-play stocks like utilities rose. The market was coming off its best day in more than two years following a steep slide last week. The S&P 500 index fell 45 points, or 1.7%, to 2,612. The Dow Jones industrial average gave up 344 points, or 1.4%, to 23,857. The Nasdaq composite lost 211 points, or 2.9%, to 7,008. (Read more stock market stories.)

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