Major U.S. stock indexes fell sharply at midday on Thursday, slipping to intraday lows. The tech-heavy NASDAQ composite was particularly hard hit losing 2.2 percent while the Dow and S&P 500 each saw 1.5 percent losses.
Volume on the NASDAQ rose 29 percent since Wednesday, as pressure to sell off tech stocks mounted. Apple, who introduced their newest iPad yesterday to less than favorable reviews, lost 3 percent, driving the market lower.
Also contributing to losses were negative jobless reports reported this morning and continued anxiety regarding China’s tightening credit and the proposed changes for big banks.
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