S&P 500 Is Pummeled in Worst Day Since 2022 as Tech Stocks Dive
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US equities plunged on Monday, part of a wave of selling globally, as investors braced for days of volatility amid rising concerns over a slowing US economy and overheated gains in the technology sector.
The S&P 500 Index sank 3%, its biggest one-day drop since September 2022, and the tech-tracking Nasdaq 100 Index slid by a similar amount. Both benchmarks pared losses from earlier in the session after a report on the services industry was stronger than projected, easing worries about the economy.