Dec. 9 (UPI) — Tech stocks dragged the three major U.S. indexes down from record highs on Wednesday as the Nasdaq Composite marked its worst day since late October.
The tech-heavy Nasdaq was the biggest loser on Wednesday as it fell 243.82 points, or 1.94%, its worst day since dropping 2.5% on Oct. 30. The S&P 500 dropped 29.43 points, or 0.79%, while the Dow Jones Industrial Average declined 105.07 points, or 0.35%.
Salesforce dropped 3.21%, Apple stock fell 2.09% and Facebook slid 1.93% after the Federal Trade Commission and attorneys general from 48 states filed a lawsuit against the company.
The S&P’s tech sector also fell 1.9% to drag the index lower.
Food delivery service DoorDash saw its stock skyrocket 85% as it held its Initial Public Offering, giving it a market valuation of bout $60.2 billion.
Markets fell from early gains after Senate Republican leader Mitch McConnell said Republicans and Democrats in Congress were “still looking for a way forward” in negotiations for another round of financial aid in response to the COVID-19 pandemic.
Wednesday’s losses came after all three major markets posted record highs on Tuesday, including the S&P topping 3,700 for the first time, largely in response to positive news surrounding a coronavirus vaccine.
