The Nasdaq Market site is seen on the day that shares of Truth Social and Trump Media & Technology Group start trading under the ticker "DJT", outside the Nasdaq Market site in New York City, U.S., March 26, 2024. REUTERS/Brendan McDermid/ File Photo
(Reuters) -Worries over tech earnings and a slowing U.S. economy slammed the Nasdaq Composite Index on Friday, putting it on track for a 10% decline from its early July record high, commonly termed a "correction" by market participants.
The tech-heavy index was down around 3% on Friday, after a softer-than-expected jobs report spurred worries over whether the Federal Reserve will need to deliver hefty rate cuts at its next meeting to prevent the economy from spiraling into recession. Disappointing earnings from Amazon and Intel have also spooked investors.
