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Nasdaq drops nearly 3%, Dow closes more than 300 points lower as tech rolls over
U.S. stocks closed sharply lower on Tuesday, erasing earlier gains, as a decline in the broader tech sector brought the major averages down. The Nasdaq composite fell 2.9 percent as shares of Apple and Amazon declined. The S&P 500 pulled back 1.7 percent, with tech sliding 3.5 percent. The Dow Jones industrial average closed 344 points lower and re-entered correction territory, with Microsoft as the worst-performing stock in the index. Earlier in the session, the Dow rose 243 points, while the S&P 500 and Nasdaq also traded higher. Facebook shares contributed to tech's losses, as they fell 4.9 percent after Bank of ... (full story)