Dow plunges more than 600 points and Nasdaq falls into correction

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Stocks Down On Jobless Claims_6248191659912937904

New York (CNN Business) – The stock market plunged Wednesday, wiping out all of its gains for 2018.

The Dow fell more than 600 points, a 2.4% drop. The S&P 500 sank more than 3%.

The tech-heavy Nasdaq plummeted more than 4% — its worst daily drop since August 2011. It is now in a correction, falling nearly 13% from its all-time high set earlier this year. 

Tech stocks sank following disappointing results from Texas Instruments and AT&T, CNN’s parent company.

Netflix kicked off tech earnings season last week when it reported a healthy jump in subscribers. But the party was short-lived for Netflix and fellow FANG stocks Facebook, 
Amazon and Google. Netflix (NFLX) fell more than 9% Wednesday and is down 17% in the past week.

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