Mumbai, Dec. 18 -- The tech-heavy Nasdaq tumbled 418.14 points (1.8%) to 22,693.32, the S&P 500 slumped 78.83 points (1.2%) to 6,721.43 and the Dow slid 228.29 points (0.5%) to 47,885.97.

U.S. stocks saw a sharp pullback through the day as renewed weakness hit the technology sector, dragging the Nasdaq lower. Oracle plunged 5.4% to a six-month low after reports that Blue Owl Capital would not fund its $10 billion Michigan data center project, though Oracle said the plan remains on track. Major chipmakers including Nvidia, Broadcom, and AMD also slumped, with the Philadelphia Semiconductor Index down 3.8% and hardware stocks tumbling over 3%.

In contrast, energy stocks outperformed as crude oil prices rebounded from early-2021 lows. The ...