Worries over tech earnings and a slowing U.S. economy slammed the Nasdaq Composite index on Friday as it extended recent declines to fall 10% below its record high, confirming it was in correction territory.
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The tech-heavy index fell 2.4% on Friday after a softer-than-expected jobs report spurred worries over whether the Federal Reserve will need to deliver hefty interest rate cuts at its next meeting to prevent the U.S. economy from falling into recession.

Disappointing earnings from Amazon and Intel also have spooked investors. 

 uehd 

 The decline in tech stocks has been driven by lackluster earnings from companies like Amazon and Intel, as well as anxieties surrounding a potential slowdown in the U.S. economy . Disappointing jobs reports have further amplified concerns about whether the Federal Reserve will need to implement significant interest rate cuts to prevent a recession