Tech selloff drags stocks lower, Nasdaq Composite down 715 points
Stocks took a sharp dive on Monday, November 2, with the Dow Jones and Nasdaq both dropping noticeably: Nasdaq Composite alone fell 715 points from its high.
The main reason? Tech stocks had a rough day and dragged the whole market down, even though some other sectors tried to hold steady.
Nasdaq-100 enters technical correction
A few big moves in tech set things off: Marvell Technology's $115 billion plan to buy Lumentum sent both their shares tumbling.
Oracle's stock slid after it sold equity and debt worth $10 billion each to fund its AI buildout.
Microsoft also raised eyebrows (and $25 billion) with its first bond sale since 2017.
All of this pushed the Nasdaq-100 into "technical correction" territory (a drop of more than 10% from its peak), showing just how much tech shapes the market right now.