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Topline
Tech stocks suffered their widest losses in months Wednesday as a debt downgrade spooked investors out of riskier assets, causing the fortunes of numerous ultra-rich tech billionaires to take a major hit.
Key Facts
The Nasdaq Composite tanked 2.3% by 3:40 p.m. ET, its worst day since February 21; the higher-growth grouping faltered as concerns about the U.S.’ macro conditions mounted.
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