– In a case of “sell your darlings,” the best-loved momentum, tech and megacaps pulled the broader market down to its biggest losses since June.

– The S&P closed down 3.5%, the Dow fell 2.8% and the Nasdaq lost 5%.

– Late buying kept the Nasdaq from having its worst day since the historic selloff of March 16, but it did have its worst one-day performance since June.

– The Fab 5 megacaps lost more than $500B in market cap on the day. Apple set a record with a drop of $180B in value.

– Apple had its worst day since March 16, off about 8%, dragging down Technology (NYSEARCA:XLK)down 5.7%. Chips took it on the chin as well.

– All 11 sectors closed lower.

To read the full post, please click here.

You may also want to read this: “Apple lost $180bn in market value today. it’s the biggest loss for any company ever.

This: “Futures turn positive after ugly selloff… what’s next for the market?

The latest economic data out Friday is here: “U.S. creates 1.4 million jobs in August, unemployment falls to 8.4%

Reaction: “Dow attempts tepid snap back after jobs report, but Nasdaq extends rout“.

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