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Fortune
Fortune
Eva Roytburg

Wall Street dumped nearly $1 trillion in tech stocks by midday—then bought peanut butter and paint

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday, June 3, 2026 (Credit: Adam Gray—Bloomberg)

Today, the Nasdaq Composite looked like a V: down more than 4% by lunchtime, closing off just 1%.

Nobody knows exactly why.

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