The Nasdaq tumbled more than 2 percent on Friday as momentum stocks like Netflix and TripAdvisor sold off for a second straight session, Reuters reported. The big drop in momentum stocks overshadowed the day's relatively strong March jobs data, which helped the Dow and S&P 500 hit intraday record highs early in the session. Momentum names - typically high-growth companies mostly in the tech and biotech sectors that led 2013's rally - have sold off in recent weeks but appeared to stabilize earlier this week. Two weeks ago, a drop in Gilead Sciences' stock, after U.S. lawmakers asked it to explain the $84,000 price tag of its new hepatitis C drug Sovaldi, set off a wave of losses in other biotech and momentum names. -- SPA 21:43 LOCAL TIME 18:43 GMT تغريد
