Amid broader market jitters tied to rising interest rates, tech stocks took a serious pounding on Wednesday, with losses accelerating as the market neared its close.

The tech-heavy Nasdaq fell more than 4%, while The Dow Jones Industrial Average tumbled more than 830 points and the S&P 500 lost more than 90 points.

Want to Buy Stocks for a 10% or Greater Discount? You can with certain so-called "closed-end" mutual funds - an often overlooked investment class. Click here to register for a free online video in which TheStreet's retirement expert Robert Powell and an all-star panel run down all you need to know.

Among the 65 stocks in the S&P 500 Information Technology sector, all 65 were down on Wednesday. Symantec (SYMC) was the lone exception for most of the afternoon, but finally succumbed to selling pressure and ended the day down 0.05%. As a whole, the sector fell 4.77% on Wednesday, its worst single-day percentage decline in seven years.

Notable tech stock declines on the S&P 500 included Adobe (ADBE) , AMD (AMD) , Salesforce (CRM) , Nvidia (NVDA) , Autodesk (ADSK) , Intuit (INTU) , which fell 6.39%, 8.22%, 7.20%, 7.48%, 6.55% and 7.35% respectively.  

The Nasdaq fell 4.1%, led in part by declines in the mega cap FAANG stocks. Facebook (FB) , Alphabet (GOOGL) , Netflix (NFLX)  and (AAPL) were down 4.13%, 5.06%, 8.38% and 4.63% respectively. 

Amazon (AMZN) stock fell into correction territory, falling 6.15% on Wednesday and almost 14% since reaching a record high of $2,039.51 on September 4. Stocks are defined as being in correction territory if they decline between 10% and 20% from a bull market high. 

Apple, Amazon, Facebook, Salesforce and Alphabet are holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells these stocks? Learn more now.

 

More from Technology

What the Trade Truce Means for the Markets

What the Trade Truce Means for the Markets

Facebook to Expand and Invest More in Its Watch Video Platform

Facebook to Expand and Invest More in Its Watch Video Platform

Amazon Stock Falls Into Its Buy Zone Ahead of a Santa Claus Rally

Amazon Stock Falls Into Its Buy Zone Ahead of a Santa Claus Rally

Apple Rises Despite Price Target Cut by Piper Jaffray

Apple Rises Despite Price Target Cut by Piper Jaffray

Apple to Spend $1 Billion on New Campus in Austin, Texas

Apple to Spend $1 Billion on New Campus in Austin, Texas