Tech Stocks Drop Again as Market Volatility Continues

Tech stocks continued their recent volatility on Thursday with a sharp dip led by biotechnology companies but followed by some of the major industry names.

The Nasdaq Composite index of technology stocks had dropped 2.7% in early afternoon trading. Google fell 2.7%, Facebook lost 4.8%, Amazon was down 3.7% and Yahoo declined 4.7%.

Smaller tech stocks that have experienced a dramatic run-up in prices over the last year were among the hardest hit, with Netflix off 4.4%, Pandora 9.8% lower and LinkedIn down by 4.4%.

The broader market also declined, although not as much as the tech sector. The S&P 500 benchmark index fell 1.6% and the Dow Jones Industrial Average lost 1.2%. Read more...