Nasdaq falls 1.45% as traders take profits
The major US stock indices are trading lower, with the Nasdaq down 1.45%, the S&P 500 lower by 0.80%, and the Dow falling 0.42%.
The larger trend remains sharply higher over the last month, with the Nasdaq still up 11.67% and the S&P 500 higher by 6.75%.
Today’s decline is attributed to profit-taking in momentum names, including technology and semiconductor stocks that had posted massive gains over the last month.