Starbucks, SaaS Stocks Weigh Down Nasdaq

Starbucks, SaaS Stocks Weigh Down Nasdaq

The stock market has moved aggressively higher for months, but investors hit an air pocket on Wednesday. Just after 2:30 p.m. EST, the Nasdaq Composite (NASDAQINDEX: ^IXIC) was down more than 2%. Earnings season continued apace, and investors in Starbucks (NASDAQ: SBUX) weren't entirely happy with what they saw.