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Think U.S. Tech Is Having a Bad Time? It's Even Worse in Europe

  • European tech set to follow Apple into a bear market
  • Handful of heavyweights have kept region’s tech sector afloat
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Market Selloff Erases U.S. Stock Gains for 2018

Apple Inc. might be barreling toward bear-market territory, but most European blue-chip tech stocks have been exploring dark depths of their own for a while.

In the U.S., the FAANG giants were the market’s driving force for the bulk of 2018, with the Nasdaq 100 Index ascending to an intraday record at the beginning of October. The subsequent sell-off was accompanied by a range of worries over a U.S.-China trade war, the impact of higher interest rates, a possible peak in the semiconductor cycle and privacy concerns, coupled with some disappointing earnings.