NEW YORK (AP) — Big technology stocks tumbled again on Tuesday, continuing the Icarus-like flight path for companies that just a week ago were the high-flyers carrying Wall Street to record heights.
The S&P 500 fell 2.8% and clinched its first three-day losing streak in nearly three months. Apple, Microsoft and Amazon were among the Big Tech stocks to sink more than 4%, torpedoing broad market indexes. The Nasdaq composite, which is packed with tech stocks, dropped 4.1% and is down 10% since Wednesday. That’s when it set its last record high. Crude oil prices and Treasury yields also weakened.