Nasdaq Declines: Benchmarks Fare and Point Deficit

nasdaq declines: How did major benchmarks fare The Nasdaq Composite Index COMP, 2.65% dropped 120.13 points, or 1.6%, to 7,333.02 to finish in correction territory, defined as an index closing at least 10% below its recent peak, which for the Nasdaq was a record finish of 8,164 hit on May 3, according to Market Watch. The S&P 500 index SPX, 2.14% slid 7.61 points, or 0.3%, to 2,744.45 while the Dow Jones Industrial Average DJIA, 2.06% made a comeback to erase a more than 100-point deficit to edge up 4.74 points to 24,819.78. The selloff in tech names comes as the yield on a key bond benchmark fell to a 20-month low, deepening a yield-curve inversion that has accurately predicted economic recessions in the past. See Dow, Nasdaq declines belie bullish market breadth data What drove the market The Wall Street Journal reported Friday afternoon that the Justice Department is preparing to investigate Google parent Alphabet Inc. That news was followed by a Reuters report that the Justice Department now has sole jurisdiction for a possible antitrust probe of iPhone maker Apple Inc. GOOG, 1.62%GOOGL, 1.52% for potential violations of antitrust regulations. (news.financializer.com). As reported in the news.