The 20 stocks hurt the most in the tech crash:
Investors have taken billions of dollars in market value from tech stocks over the past three trading sessions, enough to push the tech sector into correction territory. As of Tuesday’s close, the tech-heavy Nasdaq Composite has fallen just over 10% in the past three trading sessions from its record high.
The last correction took six days in February 2020, and it would later fall to a bear market. The S&P 500 Information Technology index was also routed, dropping roughly 11% since its record close three sessions ago. The last time the index fell that quickly was in January 2000, near the peak of the dot-com boom. There was no clear catalyst for the broad pullback, but it’s possible that investors have opted to rotate their positions out of highflying megacap tech names. It’s also possible that unusual options trading in several of the tech giants triggered the downturn. Barron’s built a screen with the 20 worst-performing U.S. stocks in the past three days, based on companies with a market value of over $10 billion traded on the Nasdaq or New York Stock Exchange. Most of those names are tech stocks. Tesla ’s 21% Tuesday decline—after the auto maker was not included in the benchmark S&P 500 index—helped put it at the top of Barron’s list. The remainder included names such as PayPal Holdings , Adobe , Square , and Salesforce.com . Nontech names include a health-care business and an oil and gas producer. Several semiconductor companies also made the list after news that China is planning a set of new policies to counter recent U.S. moves to shore up domestic semiconductor manufacturing and add restrictions on foreign chip makers. Chip equipment suppliers such as Applied Materials and KLA were hurt the most.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
20 Questions With Scott Helman: How His Grandfather Inspired New Album 'Nonsuch Park'Scott Helman unveiled his new album, Nonsuch Park, on Friday (Sept. 4). The singer-songwriter chatted exclusively with Billboard ahead of his album release.
Read more »
The 20 Best Anal Sex Toys From Butt Plugs To Anal BeadsYeppp, more beads, baby! This vibrating set is just 2.75 inches wide and has three speeds to suit your comfort level.
Read more »
This 20-Question “This or That” Quiz Will Reveal What Career You Should Actually HaveAre you destined to be a doctor or an award-winning actor? It's time to find out!
Read more »