India, April 16 -- Stocks moved sharply lower early in the session on Wednesday and saw even further downside over the course of the trading day. The major averages all posted steep losses, with the tech-heavy Nasdaq under particularly heavy selling pressure.
The major averages climbed off their worst levels going into the end of the day but remained firmly negative. The Nasdaq plunged 516.01 points or 3.1 percent to 16,307.16, the S&P 500 tumbled 120.93 points or 2.2 percent to 5,275.70 and the Dow slumped 699.57 points or 1.7 percent to 39,669.39.
The sell-off on Wall Street came amid a steep drop by shares of Nvidia (NVDA), with the AI darling plunging 6.9 percent on the day.
The slump by Nvidia came after the company said its first q...