U.S. stocks tumbled and plunged into a bear market on Thursday as markets continued to be gripped by coronavirus fears and economic uncertainty, with the five largest U.S. tech giants, Amazon, Apple, Alphabet, Facebook and Microsoft, losing $4166 in market value overnight. $300 million.
For the current performance of each share, its decline has hit the highest since the stock market crash in 1987, and it is quite the rhythm of collapse.
Specifically, Apple shares plummeted 9.88% on Thursday, Facebook fell 9.30%, Alphabet fell 8.2%, Amazon shares fell 7.98%, Microsoft shares fell 9.48%, while the morning S&P The circuit breaker mechanism was triggered for the second time in the index week. The Dow plunged more than 2,350 points, its biggest one-day drop since the 1987 “Black Monday” market crash.
Remember, these tech companies have been among the biggest drivers of the U.S. stock market rally that took the S&P 500 to a record high last month.
What made investors collapse is that although the New York Fed announced a rescue plan of at least $1.22 trillion on Thursday, it failed to prevent US stocks from falling. The Cboe Volatility Index, a measure of market panic, hit its highest level since the 2008 financial crisis.
Year-to-date, the five tech giants have all recorded sharp declines, with Facebook down the most at 24.7%, Google down 17.0%, Apple down 15.5%, Microsoft down 11.8% and Amazon It fell 9.3%.