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Dow In Triple-Digit Drop And Nasdaq Down 2% In Tech Selloff

wochit business
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April 10, 2014 AT 9:24 AM
Stocks slumped on Thursday with the Dow in a triple-digit fall and the Nasdaq dropping over 2 percent as biotech and technology shares declined and investors sought dividend-paying stocks and shed those viewed as risky. The Dow Jones Industrial Average was 127 points lower in early afternoon trading, the S&P 500 shed 22 points and the Nasdaq was 93 points, or 2.2 percent, down. Kate Warne,investment strategist at Edward Jones said,"Clearly investors are nervous about high-flying momentum stocks.