Nasdaq Index Drops 3% as Tech Stocks Turmoil Worsens

The Nasdaq Index tumbled more than 3% at the open Tuesday, September 8th as investors sold shares of Tesla and other heavyweight technology companies, while sentiment was negatively affected by growing tension between the United States and China and concerns about a faltering economic recovery.

The composite Nasdaq index fell 412.44 points, or 3.65%, to 10900.70 points. The Dow Jones Industrial Average declined by 208.08 points, or 0.74%, to 27925.23 points, while the S&P500 index fell by 55.08 points, or 1.61%, to 3371.88 points.