Nasdaq 100 suffers broad selloff, led by biotech Seagen and tech heavyweights

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The Nasdaq 100 NDX, -2.33% slumped 1.7% in afternoon trading Thursday, with only 17 of its components gaining ground, after the technology-friendly index ran up 3.3% over the past two days. The index’s biggest gainer was Datadog Inc. stock DDOG, +12.23%, which shot up 14.3% over the monitoring and security software platform company reported before the open better-than-expected fourth-quarter results and provided an upbeat first-quarter sales outlook. Shares of Seagen Inc. SGEN, -11.65% tumbled 13.8% to pace the losers after the biotechnology company reported late Wednesday a wider-than-expected loss and provided a downbeat revenue outlook. Also acting as a big drag on the Nasdaq 100 was weakness in all four of the index’s trillion-dollar-plus market capitalization companies, as shares of Apple Inc. AAPL, -2.34% shed 1.7%, Microsoft Corp. MSFT, -2.84% dropped 2.6%, Alphabet Inc. GOOGL, -2.10% slumped 1.5% and Amazon.com Inc. AMZN, -1.36% fell 1.1%.

This article was originally published by Marketwatch.com. Read the original article here.

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