Nasdaq-100 Index Posts Record Losing Streak as Microsoft Slumps
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Technology companies are suffering some of the U.S. stock market’s biggest losses, sending the Nasdaq-100 Index to the longest losing streak in its 25-year history.
The measure, which gets 63 percent of its value from computer-related companies such as Microsoft Corp. and Apple Inc., has declined 9.7 percent after slumping 10 consecutive days. Microsoft has tumbled 26 percent since peaking on April 22, while Apple has fallen 9.9 percent in two weeks.