The Dow closed 807.77 points lower, or 2.8%, at 28,292.73. The S&P 500 slid 3.5% to 3,455.06. The Nasdaq Composite dropped 5% to 11,458.10. A massive sell-off in tech dragged down the broader market from record levels.
The S&P 500 tech sector dropped 5.83% for its first losing session in 11. "Someone hit the 'sell tech, buy dreck' button and this is creating a bid beneath beleaguered groups, while [tech] gets pummeled," said one trader. Apple slid 8% to lead tech lower. Facebook, Amazon, Alphabet, Netflix and Microsoft also fell sharply.
Traders are bracing for the Friday release of the U.S. jobs for August. Economists polled by Dow Jones expect more than 1 million jobs were added last month.
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