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Stocks drop 3% amid tech sell-off

Stocks dropped more than 3% on Thursday — the market's worst drop since June — while the Nasdaq fell 4.5%.

The big picture: The indices are still hovering near their highest levels ever — the S&P 500 is still higher than it was at any time before the pandemic — but the pullback is being led by a drop in the technology stocks which led the advance to record highs.

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