U.S. equities fell on Thursday as technology's latest drop washed out strong gains from the big banks.
Shares of Facebook, Amazon, Netflix, Apple and Google-parent Alphabet all dropped more than 1 percent. Chip stocks also fell, with Nvidia and Advanced Micro Devices closing 3.3 percent and 4.8 percent lower, respectively.
The Dow Jones industrial average fell 168 points with Apple, Boeing, and 3M contributing the most losses. The 30-stock index briefly fell more than 250 points earlier int he session.
The S&P 500 pulled back 0.9 percent, with information technology sliding 1.8 percent. The S&P also traded below its 50-day moving average for the first time since May 18. The Nasdaq composite lagged, falling 1.4 percent.
Tech stocks have "shown a little bit of weakness in the past few weeks and now quarter-end is spooking the tourists in these names, if you will," said Jeremy Klein, chief market strategist at FBN Securities.
Thursday also marked the next-to-last trading day of the quarter, usually a time when investors reposition their portfolios or take profits.
Tech has been the best-performing sector for most of 2017, rising more than 15 percent in the period. But over the past month it has dropped nearly 2 percent.