Tech stocks recorded their worse day in seven years on Wednesday as the Dow Jones industrial average fell 831.83 points, the third-largest one-day point drop in history.
The S&P 500 Information Technology Index closed at $1,220.62, down 4.8 percent, marking the biggest decline since August 18, 2011, when the index dropped 5.3 percent. All 65 members of the index fell. The broader S&P 500 dropped by 3.3 percent and the Dow Jones Industrial Average tumbled 3.2 percent.
Amazon (AMZN), which is not a constituent of the S&P tech index, fell 6.2 percent, while Apple Inc. (AAPL) and Alphabet (GOOGL) declined 4.6 percent.
Amazon’s Wednesday decline puts the e-retail giant in correction territory.