Mega-cap Tech Stocks Drag Nasdaq Down 3% As Bear Market Rally Fizzles Out

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 5, 2020.Andrew Kelly/ReutersThe Nasdaq 100 fell 3% on Tuesday as mega-cap tech stocks resumed their months-long sell-off.Tuesday's decline makes it more likely that the recent 6% gain in the S&P 500 was nothing but a bear market rally.Stocks were initially higher on Tuesday after China eased its COVID-19 lockdown restrictions.US stocks resumed their months-long sell-off on Tuesday, with mega-cap tech stocks dragging the Nasdaq 100 down 3%.The decline makes it more likely that the 6% gain in the S&P 500 over the past week was nothing more than a bear market rally, drawing in hopeful bulls searching for a bottom only to reveal further downside ahead.

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