Stocks tumble amid sharp sell-off in technology sector

Stocks sank Wednesday, led by a steep decline in tech shares as this month's sell-off continued.

The Dow traded more than 550 points lower as Intel and Microsoft fell more than 1.5 percent each. The Nasdaq dropped 2.9 percent.

The S&P 500 tumbled 2.3 percent, with the tech sector underperforming. The broad index was also headed for a five-day losing streak — which would be its longest since late 2016 — and fell below its 50-day moving average, a widely followed technical level.

The major indexes have fallen sharply this month. For October, the S&P 500 and the Dow are down more than 2.7 percent and 1.6 percent, respectively. The Nasdaq, meanwhile, has lost more than 5.5 percent.

https://www.msn.com/en-us/money/markets/stocks-tumble-amid-sharp-sell-off-in-technology-sector/ar-BBObn33?li=BBnbfcL

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