Investors eye Big Tech as stock market wobbles

NEW YORK: Technology stocks are bearing the brunt of a recent market selloff, putting a spotlight on how an extended downturn in the sector could weigh on broader equity indexes.

After Monday’s sharp drop, the S&P 500 technology sector is down 6.7% since the overall S&P 500 closed at a record on Sept. 2, compared with a 5.2% decline for the broader index over that time.

The tech-heavy Nasdaq Composite, meanwhile, is down 7.3% from its Sept. 7 closing high, getting closer to marking a 10% correction.