US equities whipsawed on Monday, with the technology-focused Nasdaq Composite index briefly falling into correction territory as a sell-off in Treasuries reverberates across global financial markets.
The Nasdaq Composite, which includes tech behemoths such as Apple and Google parent Alphabet, fell as much as 2.7 per cent earlier in the day, taking losses from a record high hit in November to 10 per cent. Analysts typically consider a 10 per cent fall from a recent high to mark a correction in markets.
But a rally late in the New York session helped the index eke out a negligible gain of less than 0.1 per cent at the close, marginally offsetting a 4.5 per cent slide it had registered last week.
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