Nasdaq tumbles 2% as stocks slammed by late day selling

U.S. stocks staged a late day reversal with both the Dow Jones Industrial Average and the S&P 500 giving up all of their gains from earlier in the session. U.S. Treasury Secretary Janet Yellen, in her second day of testimony on Capitol Hill, talked more about rising taxes. Elsewhere, Intel gave up its leadership to close with a 2% loss and GameStop got lashed by investors disappointed over the company’s messaging about its turnaround. The Nasdaq fell 2%.

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