Business
The tech-heavy Nasdaq is now in a correction! – The Motley Fool Australia
US tech stocks have been falling with a vengeance lately, pushing the Nasdaq into a correction. Here’s what’s been going on with the sector.
Overnight, something strange happened over in the US. The tech-heavy US Nasdaq Composite (INDEXNASDAQ: .IXIC) Index fell a hefty 2.4%. That in itself isn’t too newsworthy (although it is a sizeable drop). No, what this test move means is that the Nasdaq is now officially in a ‘correction’. A correction is one of those rather superficial Wall Street terms that’s meant to dress up something bad as something good. A correction is a term given for a 10% or more drop in an index’s value. And since the…
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