Fears of rising interest rates have caused investors to take fright.
The Nasdaq Composite (NASDAQINDEX: ^IXIC) got some much-needed relief on Friday, with the market benchmark finally regaining a little bit of ground after a brutal sell-off that lasted much of the week. As of 2:30 p.m. EST, the Nasdaq was still up about half a percent, although that was well below where it had been at its highs. Many investors think of the Nasdaq as being synonymous with technology stocks, and it's definitely true that many of the companies with the most weight and influence in the Nasdaq do indeed have ties to tech.
The stock market kept investors on edge Friday, although the tone was more mixed than down by the late morning. After being smacked down hard, the Nasdaq Composite (NASDAQINDEX: ^IXIC) managed to bounce back somewhat from its recent losses. The S&P 500 (SNPINDEX: ^GSPC) eased lower by 2 points to 3,828, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) rose 137 points to 13,256.