Nasdaq slumps 3% on track for worst day in nearly two months

The Nasdaq Composite Index tumbled on Monday, turning negative for the year as technology and internet stocks slumped in a steep decline. The index COMP, +0.29% lost 3%, which is set to be its biggest one-day percentage drop since Feb. 8, as well as its sixth daily drop of the past eight sessions. At current levels, the Nasdaq is down 10.2% from a recent peak, according to FactSet data. Technology stocks were the biggest drags of the day; the sector lost 2.6%, with Google-parent Alphabet Inc. GOOGL, -0.67% down 3.1% and Microsoft Corp. MSFT, +0.45% shedding 3.3%. Apple Inc. AAPL, -0.04% was down 1.4%. Also weighing on the group was Amazon.com Inc. AMZN, +0.37% which shed 5% as President Donald Trump continued to tweet against the online retailer. The Dow Jones Industrial Average DJIA, +0.69% fell 2.4% while the S&P 500 SPX, +0.41% was down 2.6%.