Tech Stocks Are Getting Crushed
- The group is down for a second day even as cyclicals advance
- Some see a threat to multinationals from Trump trade policies
Why Tech Stocks Are Missing Out on the Rally
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The election of Donald Trump has been stock market manna for every industry that benefits from an expanding economy but one: technology.
Losses among computer and software makers mushroomed Thursday and were pronounced in the FANG block of Facebook Inc., Amazon.com Inc., Netflix Inc. and Google parent Alphabet Inc., each of which fell at least 1.9 percent. The Nasdaq 100 Index slumped 1.6 percent at 4 p.m. in New York, the biggest retreat since Sept. 9.