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Stocks started Wednesday weaker for a second straight day, with tech companies again among the biggest losers.
The selling pressure stemmed from disappointing earnings guidance from Taiwan Semiconductor.
The stock's previous high, adjusted for splits and dividends, was $50.37, set at the closing bell on August 31, 2000
Apple was up 2.6% Tuesday with many of its Nasdaq 100 peers in hot pursuit.
BI Prime: The new Communication Services sector will be very crowded once it launches in September.
BI PRIME: Morgan Stanley has picked six internet stocks that it says will make good investments in 2018.
Red-hot FAANG stocks could be a victim of their own success in 2018, says Morgan Stanley.
Amazon, Google and Facebook will save a combined $4.5 billion on taxes thank to the GOP tax bill, according to Cowen.
Tech stocks are getting hit on Monday, as other sectors get a boost from tax reform passing.
Tech stocks have found themselves on the wrong side of increased volatility as investors have rotated out of them and into industries that have lagged in 2017.