These 2 Stocks Show the Market Rout Goes Far Beyond Tech
As Friday progressed, the stock market proved unable to build on its Thursday bounce. Investors seem to be nervous about a wide variety of things, and it showed up in substantial losses, especially in high-growth stocks. As of 1:30 p.m. ET, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 120 points to 34,519. The S&P 500 (SNPINDEX: ^GSPC) dropped 50 points to 4,527, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was down the hardest, falling 340 points to 15,042.
It's easy to conclude from the Nasdaq's big decline that tech stocks were the biggest problem on Wall Street. Yet although some high-profile tech stocks were indeed among the top losers, you could also find some big drops among decidedly non-tech companies. Below, we'll take a closer look at why Smith & Wesson Brands (NASDAQ: SWBI) and Ollie's Bargain Outlet Holdings (NASDAQ: OLLI) found themselves near the top of the decliners' list.
Image source: Getty Images.
Source Fool.com