4/19, 6:17 PM (Source: TeleTrader)
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Tech selloff continues, Nasdaq down over 1%

Stocks on Wall Street continued to trade lower on Monday with the Nasdaq 100 doubling its losses since the opening bell. Traders were mainly focused on company earnings, with IBM and United Airlines set to report their results after the close later in the day,

The Dow Jones was down 0.44% at 12:15 pm ET, while the S&P 500 fell 0.59%. Meanwhile, the Nasdaq 100 sank 1.11%. The weakest performers in the Nasdaq were Peloton, whose shares plunged over 9% at the time, and Moderna, which was down 4.67%.

Peloton's losses were prompted by an urgent warning from the Consumer Product Safety Commission, which stated earlier the company's Tread+ product is a potentially fatal risk to children and pets.

Breaking the News / JC