Nasdaq posts biggest drop since June amid tech funding worries
Technology
Tech stocks just had a rough day: The Nasdaq saw its biggest drop since June, while companies like Intel and Reddit (both down 29%) and Sandisk (down 13%) also fell sharply.
This wraps up a pretty rocky October for tech, as investors are getting nervous about how much the industry leans on outside funding.
Microsoft Meta Amazon Alphabet slip 1%-2%
Big names in AI (Microsoft, Meta, Amazon, and Alphabet) all slipped by 1% to 2%. The Nasdaq-100 dropped 3.5%, edging close to correction territory.
As stocks fell, investors played it safe with Treasuries. Even Bitcoin took a hit after a hacking scare, dropping 3%.
All this has people wondering if the tech sector's wild growth can really last.