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%.