Nasdaq Posts Steepest Drop In Nearly a Year

MarketWatch Pulse

The Nasdaq Composite saw its steepest decline since April 2014 after investors dumped technology and biotechs stocks in droves on Wednesday. The S&P 500 and Dow industrials declined for the third consecutive session, recording the sharpest losses in two weeks. Analysts attributed the selloff to pre-earnings season jitters and profit-taking on high-flying companies. The S&P 500 dropped 30.45 points, or 1.5% to 2,061.05. The Dow Jones Industrial Average lost 292.60 points, or 1.6% to 17,718.54, and turned negative for the year. The Nasdaq Composie ended the day down 118.21 points, or 2.4%, at 4,876.52.

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below