Summary:
- The Nasdaq Composite index fell 3% on Wednesday, leading a broad sell-off in U.S. stocks as investors continue to grapple with concerns over high inflation, rising interest rates, and the potential for a recession.
- The tech-heavy Nasdaq index has now declined over 30% so far this year, reflecting the outsized impact of the sell-off on the technology sector.
- The S&P 500 and Dow Jones Industrial Average also fell significantly, with the S&P 500 dropping 2.5% and the Dow losing around 1.9%.