Express
Tech Companies Lead Sudden Decline In U.S. Stock Market
Summary: The Dow Jones Industrial Average fell 2.8% as of 4 p.m. on Thursday, September 3 in New York as sellouts among big technology shares pulled the market down. The sell off comes one day after a rally which brought the Dow industrials above 29000 for the first time since February. The S&P 500 lost 3.5% ...
The Dow Jones Industrial Average fell 2.8% as of 4 p.m. on Thursday, September 3 in New York as sellouts among big technology shares pulled the market down.
The sell off comes one day after a rally which brought the Dow industrials above 29000 for the first time since February. The S&P 500 lost 3.5% and the Nasdaq Composite dropped 5%.
Big tech companies which led the rally yesterday were ahead of the drop today with Apple losing almost 7% and Facebook falling more than 4%. Amazon also took a hit and dropped 5.4%.
Over previous months some investors have warned that the market rally may be a bubble as traders attempt to take advantage of the COVID-19 economic slump and buy shares in valuable companies for low prices.
By Emily Mason
Tags: Amazon,Apple,big tech,COVID-19,Facebook,U.S. stock market
Link: Tech Companies Lead Sudden Decline In U.S. Stock Market [Copy]
