{"id":76502,"date":"2018-12-21T16:15:31","date_gmt":"2018-12-21T21:15:31","guid":{"rendered":"http:\/\/kendallharmon.net\/?p=76502"},"modified":"2018-12-21T17:59:13","modified_gmt":"2018-12-21T22:59:13","slug":"nyt-as-markets-tumble-tech-stocks-hit-a-rare-and-ominous-milestone","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=76502","title":{"rendered":"(NYT) As Markets Tumble, Tech Stocks Hit a Rare and Ominous Milestone"},"content":{"rendered":"

When it comes to the stock market, America\u2019s technology giants have become a harbinger of more pain to come.<\/a><\/p>\n

If Facebook, Apple or Google looked shaky this year \u2014 as investors worried about growth, regulation or mismanagement \u2014 the rest of the market felt it. In recent weeks, as these companies have succumbed to concerns about the global economy, slowing profits or privacy concerns, they have led the decline in stocks.<\/p>\n

Now, technology companies are dragging stocks into an ominous territory that investors have not seen in nearly a decade: a severe decline known as a bear market.<\/p>\n

The tech-heavy Nasdaq closed on Friday at 6332.99, down almost 22 percent from its August peak, meaning it has officially entered a bear market. The S&P 500 and Dow Jones industrial average, both of which also include the biggest tech companies, are not far behind after falling 17.5 percent and 16.3 percent from their respective highs. After a month of heavy losses, stocks are on track for their worst year since 2008.<\/p>\n

Read it all<\/a>.<\/p>\n

\n

December…
\nS&P 500: -12%
\nDow: -12%
\nNasdaq 100: -13%
\nRussell 2000: -16%
\nCrude Oil: -11%$FB<\/a>: -11%$AAPL<\/a>: -16%$AMZN<\/a>: -19%$NFLX<\/a>: -14%$GOOGL<\/a>: -11%$C<\/a>: -22%$GS<\/a>: -16%$MS<\/a>: -15%$BAC<\/a>: -17%$JPM<\/a>: -15%
\n***
\nGold: +3%
\n20+ Yr Treasuries: +5%
\nYen\/Dollar: +2%
\nVolatility Index: +67%<\/p>\n

\u2014 Charlie Bilello (@charliebilello) December 21, 2018<\/a><\/p><\/blockquote>\n