Stocks Slide. Tech Selloff Enters Its Third Day.

The Nasdaq Composite dropped 1.7%. Outplacement firm Challenger, Gray & Christmas said U.S. employers announced 108,435 job cuts in January, which was the most in the first month of a year since 2009. “Bottom line, the pace of firing’s has remained low but it’s hard to ignore the Challenger data,” writes Peter Boockvar, chief investment officer at One Point BFG Wealth Partners.