While the Dow and the S&P 500 have bounced back into positive territory, the Nasdaq remains down 24.48 points or 0.6% at 4,056.28. The Dow is up 108.46 points or 0.7% at 16,509.48, and the S&P 500 is up 7.64 points or 0.4% at 1,875.36.
Substantial weakness among electronic storage stocks is weighing on the tech-heavy Nasdaq, with the NYSE Arca Disk Drive Index plummeting by 4.4%. With the steep drop, the index has fallen to a six-month intraday low.
Within the storage sector, shares of
Internet stocks are also seeing considerable weakness, resulting in a 2.1% drop by the Dow Jones Internet Composite Index. Earlier in the session, the index hit its worst intraday level in almost seven months.
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Gold, biotechnology, and software stocks also remain under pressure in mid-day trading, while notable strength has emerged among utilities and tobacco stocks.
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