The NASDAQ is down -1.67% slumping 0.9% in early trade. Technology stocks lead the decline which pushed the index lower, the index has now lost 4.9% in four sessions, and 7.1% since closing at a more than 15-year high of 4,679.68 on July 20.
Apple Inc.'s stock AAPL is down -2.73% which is by far the index's most heavily-weighted component, fell below its 200-day moving average. Netflix stocks also plunged almost 8% yesterday and looking weaker today. Losses in the rest of the Fab Five — Facebook, Amazon, Google and Apple — pushed the Nasdaq 100 index down its biggest decline since April 2014.