The benchmark S&P 500 index declined for a fourth consecutive day on Aug. 20 and the Nasdaq Composite was dragged lower as mega-cap technology stocks continue to sell off. Take advantage of TipRanks Premium at 50% off!

A steep slide in shares of semiconductor companies was dragging on the Nasdaq Composite on Tuesday afternoon, putting the tech-heavy index on track for a rare underperformance versus the Dow Jones Industrial Average.

The Nasdaq and S&P 500 fell on Wednesday as investors sold tech stocks and moved into less highly valued sectors, as they also awaited remarks from Federal Reserve officials at their Jackson Hole symposium this week.