Updated Oct 28, 2023, 1:41 pm EDT / Original Oct 27, 2023, 4:37 pm EDT
Technology stocks slumped into correction territory this past week, after a wave of poorly received earnings reports from some of the world’s largest companies. On Wednesday and Thursday, the Nasdaq Composite fell 4.1%, the tech-heavy index’s worst two-day stretch of the year. The index has fallen 12% since July.
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