US stocks plunge as tech selloff deepens

cnbc.com —

U.S. stocks plunged Thursday, with the Dow falling over 1,800 points and the Nasdaq entering correction territory as technology shares sold off sharply. The Nasdaq-100 dropped 6.36%, now 15% below its October high, while the S&P 500 tech sector fell 7%. The Dow declined 3.44%, and the Russell 2000 slid 4.5%. Jim Cramer declared a "bear market," citing concerns that the data center theme is collapsing. Chinese ETFs fared better, with KWEB up 1.8%. Moderna, up 330% in three months, and Under Armour are set to report. Credit default swap prices rose for CoreWeave, Oracle, Amazon, and Meta, indicating growing credit risk.


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