Tech stocks had their worst day in years, as a mass sell-off caused major drops for some of the world’s most valuable companies.
Per Yahoo Finance, Amazon stock tumbled 6.15 percent Wednesday, Microsoft dropped 5.43 percent, Google parent Alphabet was down 5.06 percent, Apple dipped 4.63 percent and Facebook fell 4.13 percent. The Nasdaq, where each of these tech giant stocks are listed, fell 4.08 percent.
According to MarketWatch, today’s drop was the biggest single decline for the S&P’s tech sector since August 2011. The Nasdaq’s decline was the largest since the Brexit vote in 2016, and the 832-point drop in the Dow Jones Industrial Average was the third biggest point loss in its history.
Wednesday’s stock rout is a continuation of a recent trend as most exchanges and major stocks have dropped for the last five or so days. Amazon, Google and Facebook have each seen their stocks drop more than 10 percent from recent highs over the last few weeks.