Technology stocks led the latest sharp sell-off on Wall Street following reports that the Trump administration could move to block China from investing in certain types of US technology companies using a decades-old national security law (source: Bloomberg) - Dow dropped -345-points or -1.40%, with 25 of 30 index constituents finishing the session in the red. The broader S&P500 declined -46-points or -1.70%, with seven of the eleven primary sectors closing lower (with the Financials and Consumer Discretionary sectors both losing ~2%, while defensive Utilities and Telecommunications added +1.5% and 0.5% respectively). The technology-centric NASDAQ fell -211-points or -2.90%, with the New York Stock Exchange (NYSE) FANG+ Index - that provides exposure to a select group of highly-traded growth stocks of next generation technology and technology-enabled companies including Facebook (down -5%), Amazon (-4%), Netflix (-6.1%), Google-parent Alphabet (-4.5%) and Twitter (-12%)- tumbling -53.6% and its biggest one-day slide since September 2014.
