The Nasdaq 100 index fell sharply on Wednesday as oil prices shot to a new record high, with Cognizant Technology Solutions Corp. taking the biggest loss after offering a disappointing second-quarter outlook.
The Nasdaq 100 fell 39.19 points, or 2 percent, to 1,951.42. Only eight stocks finished higher on the index, which includes 100 of the largest nonfinancial securities listed on the Nasdaq Stock Market.
Cognizant Technology Solutions, an information technology consultant, tumbled $3.54, or 10.5 percent, to $30.21 after its second-quarter outlook missed Wall Street estimates.
Fellow IT consulting company Infosys Technologies Ltd. retreated $2.48, or 5.4 percent, to $43.32.
Casino operator Wynn Resorts Ltd. lost $5.93, or 5.5 percent, to $102.02, after competitor MGM Mirage said its first-quarter profit fell 30 percent, to miss Wall Street expectations.
Among the gaining stocks, Cephalon Inc. advanced $1.85, or 3 percent, to $62.89. Analysts said Wednesday the drug maker may eventually convince the Food and Drug Administration to approve its pain drug Fentora for some uses.
Hologic Inc. added 52 cents, or 2.4 percent, to $22.62.
Hansen Natural rose 27 cents to $35.60 ahead of posting its first-quarter results after the market close.
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