'The market is in digestion mode': Nasdaq sheds 1% as investors dump tech names
Stock market ticker wall in yellow with various numbers and graphs
(CNBC) -- The Nasdaq Composite slumped on Monday as investors sold shares of technology companies that have outperformed this year and the final trading week of the first half commenced.
The Nasdaq Composite shed 1.16% to settle at 13,335.78, while the S&P 500 lost 0.45% to close at 4,328.82. The Dow Jones Industrial Average dipped 12.72 points, or 0.04%, to end at 33,714.71.
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A pullback in technology giants contributed heavily to the Nasdaq’s sharp decline. Nvidia
, Alphabet and Meta Platforms lost more than 3% each, while Tesla sank 6% as Goldman Sachs downgraded the electric car maker, citing pricing headwinds.
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