NewsFeeder
09-06-2018, 12:43 AM
[$$] Tech Stocks Retreat as Senate Hearing Proceeds
Technology stocks tumbled across the board Wednesday as executives from Facebook Inc. and Twitter Inc. defended before Congress their efforts to prevent election meddling, the latest episode showing the vulnerability of investors’ bets on megacap technology companies. What was unusual about Wednesday’s selloff was how indiscriminate it appeared: hitting not just the social media titans that were the subject of the Capitol Hill hearing on foreign influence in the 2016 election but also chip makers, software developers, online streaming services and videogame makers. Facebook fell 2.3% and Twitter dropped 6.1%, while Google parent Alphabet Inc., which didn’t send a representative to the hearing, lost 1%.
https://finance.yahoo.com/m/4618f828-1ea5-3e5c-8849-0fca7d885791/%5B%24%24%5D-tech-stocks-retreat-as.html?.tsrc=rss
Technology stocks tumbled across the board Wednesday as executives from Facebook Inc. and Twitter Inc. defended before Congress their efforts to prevent election meddling, the latest episode showing the vulnerability of investors’ bets on megacap technology companies. What was unusual about Wednesday’s selloff was how indiscriminate it appeared: hitting not just the social media titans that were the subject of the Capitol Hill hearing on foreign influence in the 2016 election but also chip makers, software developers, online streaming services and videogame makers. Facebook fell 2.3% and Twitter dropped 6.1%, while Google parent Alphabet Inc., which didn’t send a representative to the hearing, lost 1%.
https://finance.yahoo.com/m/4618f828-1ea5-3e5c-8849-0fca7d885791/%5B%24%24%5D-tech-stocks-retreat-as.html?.tsrc=rss