The tech-heavy Nasdaq 100 saw among the deepest losses on the day, falling 3.8%, its largest single-day drawdown since October 2022. At intraday lows, with the index 4.7% lower, the amount of market value wiped out exceeded $1 trillion.
A flurry of headwinds has pulled the Nasdaq down into correction territory from a mid-February high: tariff-related uncertainty, eroding confidence in AI spending, and a slate of disappointing inflation and labor data.
Anxiety is rising that the US is rolling into a recession, especially after President Donald Trump refused to dismiss the possibility over the weekend.
The so-called "Magnificent 7" stocks — a group of popular AI names responsible for the recent bull market — were collectively crushed on Monday.
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www.businessinsider.com
A flurry of headwinds has pulled the Nasdaq down into correction territory from a mid-February high: tariff-related uncertainty, eroding confidence in AI spending, and a slate of disappointing inflation and labor data.
Anxiety is rising that the US is rolling into a recession, especially after President Donald Trump refused to dismiss the possibility over the weekend.
The so-called "Magnificent 7" stocks — a group of popular AI names responsible for the recent bull market — were collectively crushed on Monday.
Complete Article
The tech-heavy Nasdaq's $1 trillion sell-off, in charts
The 4% drop in the Nasdaq on Monday marked its worst day in years as Trump refused to rule out recession.
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