US equity markets retreated after a volatile session, with fresh selling in the technology sector - Dow dropped -406-points or -1.45%. The broader S&P500 shed -1.76% Citigroup Inc after the bank said Chief Executive Officer (CEO) Michael Corbat announced plans to retire after about eight years in the role and 37 years at the bank. He will retire and step down from the board of directors in February 2021. The bank said Jane Fraser, currently the CEO of global consumer banking, will succeed Mr. Corbat as CEO in February. The technology-centric NASDAQ -1.99%. Facebook Inc (down -2.06%), Amazon.com Inc (-2.86%), Apple Inc (-3.26%), Netflix Inc (-3.9%), Alphabet Inc (-1.6%), and Microsoft Corp (-2.8%) all closed sharply lower All three benchmark indices have fallen for four of the past five days with the Nasdaq Composite now down -7.27% so far for September. Tesla Inc settled +1.4% higher, unwinding an earlier rally of over >8%.
