The Nasdaq and technology shares experienced significant declines on July 17, 2024. The Nasdaq Composite fell nearly 3%, marking its worst day since December 2022. The S&P 500's information technology sector dropped 3.1% in early trading, also heading for its biggest one-day decline since December 2022. The broader S&P 500 index fell more than 1%, erasing approximately $650 billion in market capitalization. The STOXX Europe 600 Technology Index extended its fall, declining by 4.5%, its largest one-day drop since December 2022. The decline in chip shares contributed to the overall market downturn. The Nasdaq $QQQ also had its worst day since December 2022, with a decline of -2.55%. In contrast, the DJIA closed at a record high.