It was a pretty dreadful day for technology stocks, but optimists can point to the fact that it actually ended a lot better than that way it started. The technology-friendly Nasdaq Composite closed down 3.8%, to suffer its first 10% correction since November 2012. But that’s less than half the 8.8% loss it was suffering at its intraday low of 4,292.14, which was hit soon after the open. The PowerShares QQQ , the ETF tracking the Nasdaq 100 Index , plunged as much as 17% intraday before closing down 3.9%. Among the Nasdaq’s most heavily-weighted components, Apple Inc.’s stock was down 13% at one point, before bouncing to close down just 2.5%. Shares of Microsoft Corp. pared losses of as much as 7.8% to end down 3.2%; Amazon fell as much as 8.8% but closed down 6.3%; and Google Inc. dropped as much as 7.9%, but closed down 4%. Elsewhere in the sector, Neflix’s stock tumbled 18%, Twitter shares had plunged 19% and the SPDR Technology ETF plummeted 21% at their intraday lows, before paring losses.
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From:: Stock Market News