Nasdaq loses grip on 8,000 level for first time since mid April

The Nasdaq Composite Index midday Thursday fell to its lowest level since mid April, giving up a perch above a psychologically significant level at 8,000 after the technology-heavy index rang up a series of records earlier in the week. Most recently, the Nasdaq COMP, -0.35% was trading off more than 50 points, or 0.6%, at 7,999, putting it on pace to close below 8,000 for the first time since April 18, according to FactSet data. The broader stock market also was under pressure, with the Dow Jones Industrial Average DJIA, -0.60% and the S&P 500 index SPX, -0.34% falling solidly in the wake of a Federal Reserve Wednesday policy update that some one Wall Street are interpreting as less easy-money as investors had hoped.

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