Dow drops 130 points | Tech sell-off resumes | Snowflake declines after IPO pop

Tech is not out of the woods yet and neither is the broader stock market.

VIEW IN BROWSER | SUBSCRIBE THU, SEP 17, 2020 EVENING BRIEF AS OF THU, SEP 17, 2020 • 04:22 ET DJIA 27901.98 -0.47% -130.40 S&P 500 3357.01 -0.84% -28.48 NASDAQ 10910.28 -1.27% -140.19   Most Active DOW NAME LAST CHG %CHG AAPL 110.34 -1.79 -1.60% MSFT 202.91 -2.14 -1.04% INTC 50.32 -0.05 -0.10% S&P 500 NAME LAST CHG %CHG GE 7.05 +0.30 +4.44% AAPL 110.34 -1.79 -1.60% F 7.28 +0.26 +3.70% NASDAQ NAME LAST CHG %CHG AAPL 110.34 -1.79 -1.60% TSLA 423.43 -18.33 -4.15% AMD 76.55 -0.11 -0.14%   EDITOR'S NOTE Tech is not out of the woods yet and neither is the broader stock market.   The major U.S. averages all fell Thursday, dragged down by shares of key tech companies such as Amazon, Alphabet and Apple.    Those losses added to Big Tech's steep decline in September. Facebook, Apple, Amazon, Microsoft and Netflix are all down more than 10% this month. Alphabet has dropped 9% month to date. At the S&P 500 sector level, tech is down more than 8% in September.   "The market had gone up too much, too fast and valuations got to a point where that was more noticeable than before," said Tom Martin, senior portfolio manager at GLOBALT. "So now you're seeing the market correct a bit."   "The question now is whether this is the kind of range we'll be in for the rest of the year," said Martin.    Thursday's decline also came as traders weighed conflicting messaging over the coronavirus pandemic as well as uncertainty about further fiscal stimulus.   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Fred Imbert | CNBC Markets Reporter @foimbert TOP NEWS  Dow closes more than 100 points lower, Apple and Microsoft drag down tech Trump expected to rule on TikTok deal in 24-36 hours, Oracle to take 20% stake Snowflake's first-day pop means IPO left $3.8 billion on the table, the most in 12 years Snowflake shares tumble a day after IPO surge U.S. markets to take hit as second wave occurs like is happening now in Europe, Bernstein says Frenzy in options trading could make this week more volatile for some favorite stocks Biden's national polling lead shrinks slightly, but swing states show signs of trouble for Trump House Democrats question findings of Kodak's internal review in wake of botched pharma deal Jobless claims were lower than expected but employment growth is still sluggish Here's a recap of the biggest market-moving news on Thursday   TOP VIDEO Why home prices may continue to push higher   CNBC PRO Mike Santoli's market notes: Market's multiple tests, Apple and Tesla charts, software backsliding   SPECIAL REPORTS Why your high-yield savings account interest rate keeps dropping Amwell CEO on its NYSE debut   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS