Shares of technology companies fell sharply as traders fled a sector seen as sensitive to rising Treasury yields and risk aversion.
In a reflection of changing mood on the stock market, the CBOE Volatility Index, known as the VIX, or "fear gauge," rose by 23% for the session.
Shares of Microsoft fell by more than 3%, the biggest decline for the software giant in almost a year.
Software-focused investment firm Thoma Bravo agreed to sell a 45% stake in Command Alkon, a provider of supply-chain-management software for the heavy construction industry, to building-materials concern HeidelbergCement for more than $1.7 billion, The Wall Street Journal reported.
Facebook said it plans to ask its Oversight Board to recommend ways the company can improve how it regulates content from high-profile users, acknowledging it has struggled in this area.
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(END) Dow Jones Newswires