{"id":4539,"date":"2018-11-19T20:25:49","date_gmt":"2018-11-19T20:25:49","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/wall-street-sees-red-as-tech-shares-plunge\/"},"modified":"2018-11-19T20:25:49","modified_gmt":"2018-11-19T20:25:49","slug":"wall-street-sees-red-as-tech-shares-plunge","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/wall-street-sees-red-as-tech-shares-plunge\/","title":{"rendered":"Wall Street sees red as tech shares plunge"},"content":{"rendered":"\n
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\"TradersImage copyright<\/span>
\n Getty Images<\/span><\/p>\n

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Shares in some of the world’s largest technology stocks plunged on Monday, dragging the Nasdaq down almost 3% to drive a wider market sell-off.<\/p>\n

The Dow Jones Industrial Average fell 1.75% in mid-afternoon trading while the S&P 500 index dropped 1.7%.<\/p>\n

The declines were driven by Apple and Facebook.<\/p>\n

Investors dumped stock on fears of a slowdown in iPhone sales as well as continuing tensions over trade between the US and China.<\/p>\n

Apple’s stock dropped 3.8%.<\/p>\n

Facebook, which is grappling with continued controversy over its handling of user data and the crisis over Russian election interference, saw its shares fall more than 5%.<\/p>\n

Apple shares are now down about 20% from their peak in October, while Facebook shares are hovering at their lowest levels in more than 18 months.<\/p>\n

Trade tensions<\/h2>\n

The two companies are part of a cohort of popular technology stocks, which also includes Netflix, Amazon, and Google’s parent company, Alphabet, that have helped propel US markets to new records over the last two years.<\/p>\n

However, in recent weeks, Wall Street has seen sharp declines.<\/p>\n

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Image copyright<\/span>
\n Reuters<\/span><\/p>\n

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Image caption<\/span>
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\n Apple shares are trading at 20% below their October peak
\n <\/span>
\n <\/figcaption><\/figure>\n

Investors are rattled by signs of slowing global growth, rising interest rates as well as the billion dollar tit-for-tat tariffs imposed by the US and China on each other’s goods.<\/p>\n

The US has pressed China to address “unfair” trade practices, such as barriers on foreign companies and intellectual property theft, levying the tariffs as punishment.<\/p>\n

Hopes the two sides might reach a compromise dimmed over the weekend, after a major economic summit in Asia ended without a joint agreement.<\/p>\n

The two countries are expected to meet again at the end of the month in Argentina.<\/p>\n

Apple products, many of which are made in China, have been spared tariffs so far, but are at risk if the US moves forward with additional measures, as threatened.<\/p>\n

In addition, tech companies, including Facebook, face rising calls for regulation and tax changes that could hurt growth.<\/p>\n<\/p><\/div>\n


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Source<\/a> by [author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Image copyright Getty Images Shares in some of the world’s largest technology stocks plunged on Monday, dragging the Nasdaq down almost 3% to drive a wider market sell-off. The Dow Jones Industrial Average fell 1.75% in mid-afternoon trading while the S&P 500 index dropped 1.7%. The declines were driven by Apple and Facebook. Investors dumped … <\/p>\n","protected":false},"author":0,"featured_media":4540,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=4539"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4539\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/4540"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=4539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=4539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=4539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}