NDX: Nasdaq Ekes Out Tiny Gain Amid Broad Selling

The tech-heavy index fell but heroically clawed back all losses Wednesday as peers gave in to the pressure.

• The Nasdaq Composite was the only survivor of all major US and European indexes on Wednesday after a banking storm sank global markets. Wall Street’s technology darling advanced a moderate 6 points, or just 0.05%, on the day, up for a third straight session.
• The fallout from Credit Suisse’s crisis of confidence whipsawed stocks, pressuring the Nasdaq to a deep 2.5% intraday loss before the techies stepped in and fueled a sharp rebound. The index is up just over 10% this year, ways away from the other two stock averages.
• Wednesday’s selling was so severe that at one point the S&P 500 erased all of its gains for the year. Bank stocks were the biggest losers on both sides of the Atlantic. In a ray of hope, the latest batch of economic data showed retail sales fell and producer-price inflation slowed.