More Than One-Third of Nasdaq Stocks Have Slumped 50%

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The Street

By Dan Weil That number normally points to a bear market, according to Ned Davis Research. So the Nasdaq index as a whole could be in trouble. As a whole, the technology stock drop of recent weeks doesn’t look too bad, with the Nasdaq Composite index down 9% from its November record high. But if you look beyond that number, 36% of the stocks in the index have plunged at least 50% from their 52-week highs, according to Ned Davis Research, as cited by Bloomberg. And the implications for the market aren’t pretty — possibly a bear market. Historically, when the Nasdaq stands within 10% of its all…

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