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NEW YORK, Sept. 8 (Xinhua) – US stocks tumbled Tuesday as investors continued to exit the tech sector.
The Dow Jones industrial average fell 632.42 points, or 2.25 percent, to finish at 27,500.89. The S&P 500 sank 95.12 points, or 2.78 percent, to 3,331.84. The Nasdaq Composite Index lost 465.44 points, or 4.11 percent, to 10,847.69.
Shares of major US tech giants, or the so-called FAANG group of Facebook, Apple, Amazon, Netflix and Alphabet, Google’s parent company, closed markedly lower.
Tesla shares fell more than 21 percent, which weighed on the Nasdaq. The High-Tech Index fell 10 percent in the last three sessions.
The S&P 500’s 11 primary sectors fell, and technology fell 4.59 percent, leading the losses.
Chinese companies listed in the US were lower, and all of the top 10 stocks by weight in the S&P US Listed China 50 Index ended the day on a negative note.
The moves came after the worst Wall Street tech crash since March of the previous week.
The S&P 500 tech sector fell 5.83 percent on Thursday, posting its biggest one-day loss since March, and the group sank 1.34 percent more on Friday.
For the week ending Friday, the Dow Jones was down 1.8 percent, the S&P 500 was down 2.3 percent and the high-tech Nasdaq was down 3.3 percent.
Financial markets in the United States closed on Monday in observance of Labor Day.
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