The Nasdaq Composite Index slumped late-morning Monday, with the day’s slide helping to push the technology-and-internet focused gauge to its first monthly loss since March, according to FactSet data. The Nasdaq COMP, -0.78% in late-morning trade was down about 80 points, or 1%, at 7,931. Worries that the U.S. trade clash with China was on the verge of escalating this week has kept investors on edge, particularly in tech, because that sector could be harmed by another round of tech-focused tariffs, market participants said. The Trump administration is planning to unveil new import duties on $200 billion in Chinese goods. The Nasdaq was on pace to shed 2.1% in September, which would be the index’s worst monthly and only decline since a 2.9% fall. Beyond tariffs, industry watchers also have feared that shares within the group have gotten rich. Meanwhile, the Dow Jones Industrial Average DJIA, -0.07% was experiencing a less-severe slide on Monday, down 0.1% at 26,132, while the S&P 500 index SPX, -0.25% was down 0.3% at 2,895. Notably, shares of Apple Inc. AAPL, -1.68% and Amazon.com Inc. AMZN, -2.05% two of the world’s most highly valued companies, were trading sharply lower on Monday, weighing on the broader market. Technically, Amazon is classified as a consumer-discretionary company and not tech in major benchmarks like the S&P 500, but it can influence sentiment in the tech and internet-related sector.
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