Nasdaq skids 2% lower and Dow turns negative to end choppy Wednesday trade

U.S. stocks finished lower in ugly trading action Wednesday that saw the market shed opening gains to end lower, with losses for technology-related stocks accelerating near the close. The Nasdaq Composite Index COMP, -2.01% ended down 2% to finish at around 12,961, losing its grip on the psychological round-number level at 13,000 and clinging to a 0.6% gain for the year. The Dow Jones Industrial Average DJIA, -0.01%, which had been powered earlier by gains in Boeing Co. BA, -0.83% and Intel Corp. INTC, -2.27%, finished the session flat at 32,420, after hitting an intraday high at 32,787.99, FactSet data show. Meanwhile, the S&P 500 index SPX, -0.55% closed down 0.6% to 3,889, weighed by decline in technology shares XLK, -1.21% and communication services XLC, -2.52% and consumer discretionary XLY, -1.48%.

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