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Nasdaq in the Red as High-Flyers Hit

U.S. stocks pulled mostly higher on Wednesday, as investors took comfort in an overture on Ukraine from Russian President Vladimir Putin, but the Nasdaq Composite remained solidly in negative terrain, as investors cycled out of so-called momentum stocks.

“We’ve got a healthy release of air from high-growth names,” said Joe Peta, managing director at Novus.

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This article originally appeared on Recode.net.