Instacart, DoorDash Raise Money: The Information’s Tech Briefing

What goes up must come down. After the common sense-defying rally of recent weeks, a sell-off was overdue. But the size of the fall—the S&P 500 dropped nearly 6%, while the Nasdaq lost more than 5%—was still surprising. 

It’s a reminder of just how volatile stocks are likely to remain while the threat of the virus lurks. It may also cause all those tech company executives who dusted off their IPO plans in the past week or two to take a pause, again.—Martin Peers