Tech Rout Eases Afterhours on Amazon, Snap Results: Markets Wrap
- Nasdaq 100 posts worst fall since 2020 during cash session
- Facebook owner sheds more than $250 billion from market value
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The worst selloff in American technology shares since 2020 showed signs of easing in late trading after Amazon.com Inc. and Snap Inc. soared on quarterly results.
Amazon spiked higher by 15%, while Snap added 40%, lifting the biggest exchange-traded fund tracking the Nasdaq 100 by 2% as of 4:24 p.m. in New York.