The Nasdaq and S&P 500 indexes dropped sharply Thursday and posted their worst trading days since late April, as tech stocks cooled off following a rally led by Apple and Nvidia on Wednesday that sent the indexes to all-time highs.
The indexes are up more than 17% on the year. (Photo by Spencer Platt/Getty Images)
The Nasdaq closed down 1.9% at 18,283.41, a decrease not seen since April 30, when the index closed down more than 2%.
The S&P 500 closed at 5,584.54, also experiencing its worst drop (.88%) since April 30, when the index closed down 1.57%.
The drops came amid large selloffs from tech stocks such as Nvidia (-5.57%), Meta (-4.11%), Microsoft (-2.48%) and Apple (-2.32%), the latter of which hit a record-high market capitalization of $3.57 trillion Thursday.
Despite the losses, the Nasdaq and S&P 500 are still up big on the year, surging up 21.8% and 17.1%, respectively, since January.
This is a developing story. Check back for updates.