Tech Stocks Weather Tough Week [TheStreet.com]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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Source: TheStreet.com
You know things are bad when you're nostalgic for Friday the 13th. In the last week tech stocks have taken a severe pounding as if some the biggest names in the sector crossed paths with a platoon of black cats. The market has been by such factors as inflation, rising interest rates, and Russia's invasion of Ukraine. "It would seem that many investors are trying to call the bottom of the falling knife that is the plunging stock market at the moment, the high tech NASDAQ index is down by around 25% for the year to date and we are not even six months into 2022," said David Jones, chief market strategist with the investment trading platform, Capital.com. Tech stocks also make a large part of the S&P 500, with Google parent Alphabet ( ) -, Amazon ( ) -, Apple ( ) -, Facebook parent Meta Platforms ( ) - and Microsoft ( ) - making up about 20% of the index. Alphabet was down 8.5% from its week-ago closing price, and Microsoft MSFT was off 4.%. Amazon was off about 6.6% from the prior
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