The record-setting Nasdaq bear market that delivered a knockout punch to tech stocks is now digging its claws into the broader market. Until now, most of the pain on Wall Street has been confined to the tech sector. But it's becoming clear that fewer stocks are bulletproof, making nervous investors even more jittery.
History shows that in a final spasm sell-off, it usually affects all stocks.
Indeed, it's no longer just tech-stock speculators watching their portfolio balances dwindle. The tech wreck is already starting to infect the entire stock market. All 30 Dow components finished in the red. Still, many money managers refuse to rule out further blue-chip declines. For one, drug and financial stocks that have enjoyed sharp run-ups the past 12 months have slumped in recent days and may have little room to run.