Dow Plummets 800 Points; US Markets Bleed as Tech Stocks Log Worst Day Since March: Facebook, Apple, Microsoft, Alphabet, Tesla Shares Suffer Sharp Declines
The US stocks slumped on Thursday’, with the Dow falling more than 800 points (2.7 percent) and the S&P 500 dropping 3.5 percent. The Nasdaq Composite lost 4.9 percent.
Washington, September 4: The US stocks slumped on Thursday’, with the Dow falling more than 800 points (2.7 percent) and the S&P 500 dropping 3.5 percent. The Nasdaq Composite lost 4.9 percent. Much of the day's losses came from the technology sector, which clinched its single-worst day since March and snapped a 10-day win streak.
Shares in five biggest US companies-Apple, Amazon, Alphabet, Microsoft and Facebook - fell between 4 percent and 8 percent on Thursday. For the day, Apple lost the majority, down 8 percent, Microsoft shed 6 percent and Google-parent Alphabet declined 5 percent. TikTok Acquisition in US: Walmart Teams Up With Microsoft to Bid for Chinese Video-Sharing Social Networking App.
US Tech Stocks Suffer Sharp Declines
According to the CNBC report, those steep declines in tech shares come after space drove the lion’s share of the broader market’s comeback off the coronavirus sell-off lows. Since March 23, the S&P 500 tech sector is up about 70 percent.
(The above story first appeared on LatestLY on Sep 04, 2020 08:01 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).