Wall Street’s 3-day skid checks market

Wall Street’s summer-long party fueled by investors’ appetite for some of the world’s best-known technology companies has come to an abrupt, if not entirely unexpected, halt. 

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September 9, 2020 - 9:28 AM

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. REUTERS/Carlo Allegri/File Photo - RTSHUXE

Wall Street’s summer-long party fueled by investors’ appetite for some of the world’s best-known technology companies has come to an abrupt, if not entirely unexpected, halt. 

The sharp sell-off that began last Thursday has wiped out nearly 7.1% from the S&P 500 as of Tuesday, its first three-day skid in nearly three months. 

The Nasdaq composite, home to Apple, Amazon, Zoom, Tesla and many other tech stocks that led the market’s remarkable five-month comeback from its lows in March, has lost more than 10% after setting an all-time high just four days ago — a decline known in the market as a correction. 

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