Wall Street’s euphoria took a break Thursday as steep losses in technology stocks dragged the rest of the market down with them.
Apple dropped 8%, Amazon lost 4.6% and Facebook gave back 3.8%. The Big Tech stocks have made massive gains this year. Investors have been betting that those companies would continue posting huge profits as people spend even more time online with their devices. They’ve also assigned lofty market values to newfound darlings such as Zoom Video Communications as many Americans work remotely and students do online learning.
The government reported that the number of Americans who applied for unemployment benefits fell last week to 881,000, slightly better than what economists had expected. That said, companies are still letting workers go at numbers well above those seen in the Great Recession, meaning the jobs picture remains extremely bleak despite recent improvements.
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Stop working for money, it's enslaving everyone.
Oh my! Since June? Catastrophe!
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Tech rout sends stock market to its biggest loss since JuneNEW YORK (AP) — Stocks fell sharply on Wall Street Thursday as high-flying technology companies took a tumble after months of spectacular gains. The benchmark S&P 500 lost 3.5%, its biggest loss... wee number go down But it wuz up 450 yesterday! Wut happen?
Source: AP - 🏆 728. / 51 Read more »
Dow tanks 808 points as tech-stock exodus drives worst day since June - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Is there a photo of traders on the floor when the market is UP 800 points? We only see them when they're exasperated by downward movement of the market. Thank you 45. Making America Great Again, Again. Joe2020
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Source: CNBC - 🏆 12. / 72 Read more »
US stock rally halts as investors shun tech giants - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. plenty of room to run in precious metal jr mining stocks Great clip art. The panic’d trader picture never gets old.
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