![A reversal in high-flying tech stocks sent major indexes sharply lower Thursday. [Angela Weiss / AFP via Getty Images]](https://npr.brightspotcdn.com/dims4/default/2e9d440/2147483647/strip/true/crop/4449x3335+0+0/resize/840x630!/format/webp/quality/90/?url=http%3A%2F%2Fnpr-brightspot.s3.amazonaws.com%2Flegacy%2Fimages%2Fnews%2Fnpr%2F2020%2F09%2F909306930_1711800981.jpg)
Stock prices fell sharply as a reversal in high-flying tech shares such as Apple and Netflix drove the S&P 500 index down more than 4% by late Thursday afternoon.
One day after finishing above 29,000 for the first time since the pre-pandemic days of February, the Dow Jones Industrial Average was down nearly 900 points, a decline of more than 3%. The Nasdaq was down more than 5%.
Among the biggest losers were the same superstar tech stocks that have been responsible for much of the market's gains since March, including Facebook, Netflix and Amazon.
The electric carmaker Tesla, which has experienced phenomenal growth this year, was down nearly 10% in late Thursday afternoon trading.
Conversely, some of the stocks hardest hit by the pandemic shutdowns, such as Macy's and Carnival Cruise Line, rose sharply.
The volatility in the market comes at a time of ongoing concern about the pandemic's impact on the economy. On Friday, the Labor Department is scheduled to release the much-anticipated August jobs report, which is expected to show a decline in unemployment although it remains high by historical standards.
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