Investors Shun Risky Assets as Tech Trade Stalls

By Karen Langley

The selloff in highflying technology shares has been accompanied by a broad retreat from other risky assets, raising questions about the foundation of the market recovery, as investors anticipate a potentially volatile autumn.

The tech-heavy Nasdaq Composite dropped 4.1% Tuesday, bringing its losses over the past three sessions to 10% and sending it into correction territory. Apple Inc. has shed 14% over that period, Microsoft Corp. has lost 13%, and Amazon.com Inc. is down 11%.

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