Blog Home

Trillions Of Dollars Disappear As Tech Stocks Drop

girl
...

Tech stocks plunged in October, suffering worst month since 2008 

Technology stocks just capped off their worst month since the depths of the recession a decade ago. The Nasdaq plunged 9.2 percent in October, its steepest monthly drop since a 10.8 percent decline in November 2008. At that time the financial markets were in crisis and the tech-heavy Nasdaq was at the tail end of a six-month slump, during which the index lost more than 40 percent of its value.

via drudgereport.com

 

The tech sector certainly wasn't alone in October. Eight of the 10 subgroups of the S&P 500 fell, led by energy and consumer discretionary stocks, which dropped more than the tech group. The broader S&P 500 declined 6.9 percent, and the Dow Jones Industrial Average slid 5.1 percent.

But tech has an outsize impact on the market as a whole, because five of the six most valuable U.S. companies are from that sector and hail from either Silicon Valley or the Seattle area.

Rep Gohmert Calls Out Faux News For Protecting Geo...
Murderous Thugs Target Venezuela's Communist Criti...
 

Comments (0)

There are no comments posted here yet

Leave your comments

Posting comment as a guest. Sign up or login to your account.
Attachments (0 / 3)
Share Your Location

This organization operates on donations from users like you. We thank you for contributing.

Wait a minute, while we are rendering the calendar

Thank You

This organization operates on donations from users like you. We thank you for contributing.