Technology stocks keep stumbling; Nasdaq down 10% in 3 days

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NEW YORK (AP) — Big tech stocks slumped again on Wall Street, pulling the Nasdaq down 10% over the past three trading days.

The tech-heavy index dropped 4.1% Tuesday, and the S&P 500 lost 2.8%.

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Big names that had been been the main reasons for Wall Street’s rocket ride back to record heights were among the heaviest weights, including Apple, Microsoft and Amazon.

Tech stocks had been the darlings of Wall Street, even through the pandemic, on expectations that they can continue to deliver strong profit growth almost regardless of the economy and global health, but many market watchers have been saying the eye-popping gains were overdone.