Nasdaq skids 2% lower and Dow turns negative to end choppy Wednesday trade

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U.S. stocks finished lower in ugly trading action Wednesday that saw the market shed opening gains to end lower, with losses for technology-related stocks accelerating near the close. The Nasdaq Composite Index
COMP,
-2.01%
ended down 2% to finish at around 12,961, losing its grip on the psychological round-number level at 13,000 and clinging to a 0.6% gain for the year. The Dow Jones Industrial Average
DJIA,
-0.01%,
which had been powered earlier by gains in Boeing Co.
BA,
-0.83%
and Intel Corp.
INTC,
-2.27%,
finished the session flat at 32,420, after hitting an intraday high at 32,787.99, FactSet data show. Meanwhile, the S&P 500 index
SPX,
-0.55%
closed down 0.6% to 3,889, weighed by decline in technology shares
XLK,
-1.21%
and communication services
XLC,
-2.52%
and consumer discretionary
XLY,
-1.48%.

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