However, the same names have been susceptible to steep declines during periods of heavy selling as investors rotate into safer investments like bonds. Microsoft fell 5.4 percent, and Apple dropped 4.6 percent. Amazon, which is not a constituent of the S&P tech index, fell 6.2 percent, and Alphabet declined 4.6 percent.

The worst tech performers today are some of the year’s best performers. AMD, which has climbed almost 150 percent in 2018, fell 8.2 percent on Wednesday, the biggest loser in the index. Intuit, Salesforce and Nvidia each dropped more than 7 percent, and are still up over 25 percent for the year.

— CNBC’s Ari Levy contributed to this report.

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