Facebook Down 12.1%, Apple Down 10%, Google Down 6.5%, Microsoft Down 5.8% As Stock Markets Plummet
Update: Public tech companies are already recovering from brutal stock market decline
Tech companies are suffering from the current hostile stock market environment as stock markets around the world are plummeting following concerns over China. All tech companies are tanking right now, with some suffering from a stark correction. When the stock markets opened, compared to Friday’s closing price, Facebook was down 12.1 percent to $75.62, Apple was down 10 percent to $95.17, Amazon was down 6.4 percent to $463.03, Microsoft was down 5.8 percent to $40.59.
And the list goes on and on. Smaller companies suffered as well. Netflix opened down 14.7 percent to $88.67 following a few months of great performance. PayPal, which recently became independent, also opened down 9 percent to $31.17. Twitter was down 8.9 percent to $23.56.
Overall, hundreds of billions of market capitalization have disappeared overnight. Many of them are already recovering from this tough trading day — for example, Apple is “only” down 3.2 percent now. But still, it’s quite impressive to see all these public companies in the red at the same time. Here’s a quick recap of the situation 30 minutes after trading started this morning:
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