Nasdaq Dips Amid Concerns as Service Sector PMI Declines in February

On a rather tremulous Tuesday, the U.S. stock market witnessed a significant downturn, with the Nasdaq Composite plummeting over 250 points. Amidst the unfolding market scenario, the Dow fell by 0.64% settling at 38,741.00, while the Nasdaq took a steeper dive by 1.64% ending at 15,942.27. The broader index, S&P 500, was not spared as it experienced a decline of 0.85%, closing at 5,087.09.

Industry-Specific Movements

Despite the general downturn, utility shares provided a glimmer of hope, climbing 1.2% and standing out as an exception in the sea of red. Individual stock movements were particularly notable, touching various sectors from technology to retail.

Spotlight on Specific Tickers

Apogee Therapeutics, Inc. APGE, a biotech firm focusing on inflammatory and immunology conditions, is based out of Waltham, Massachusetts. Meanwhile, S&P Global Inc. SPGI, headquartered in New York City, specializes in financial information and analytics. Then there's ThredUp Inc. TDUP, operating an online resale platform for second-hand women and children's clothing, shoes, and accessories from its base in Oakland, California. Other stock tickers affecting the current market dynamics include Airship AI Holdings AISP and a couple of other noteworthy names in the mix, like Dave Inc. DAVE and Quoin Pharmaceuticals Ltd. QNRX.

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