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Dow sinks 831 points as tech companies plunge

San Francisco Chronicle
Dow sinks 831 points as tech companies plunge

NEW YORK — Stocks plunged to their worst loss in eight months on Wednesday as technology companies continued to drop. The Dow Jones industrial average fell 831 points. The losses were widespread, and stocks that have been the biggest winners on the market the past few years, including technology companies and retailers, suffered steep declines. Apple and Amazon both had their worst day in 2½ years. The Nasdaq composite index, which has a high concentration of technology companies, had its biggest loss in more than two years. Alec Young, managing director of global markets research at FTSE Russell, said investors fear that rising interest rates and growing expenses are going to erode company profits