Nasdaq drops more than 1%, enters correction territory as regulation fears batter big tech - CNBC

Nasdaq drops more than 1%, enters correction territory as regulation fears batter big tech  CNBC

Tech stocks fell on Monday, June's first day of trading, amid reports that the U.S. government is planning to target a host of big companies in the industry with antitrust and business practice probes. Shares of Alphabet, Amazon, Facebook and Apple all weighed on the market during Monday's session. The Nasdaq Composite dropped 1.6% to enter correction territory, closing more than 10% below its record high set in late April at 7,333.02. The S&P 500 slid 0.3% to 2,744.45 while the Dow Jones Industrial Average ended the day just above breakeven at 24,819.78. Alphabet shares pulled back 6.1% af...