Nasdaq at Risk of 10% Correction as Antitrust Blows Keep Landing
- Federal regulators considering probes on tech behemoths
- FANG cohort tumbles as more than $135 billion wiped out
Monitors display stock market information as pedestrians are reflected in a window at the Nasdaq MarketSite in the Times Square area of New York, U.S., on Friday, April 26, 2019.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
A flurry of antitrust headlines walloped technology investors and put the Nasdaq 100 at risk of a 10% correction.
Losses were spreading among the world’s biggest companies, with Amazon.com down 4.2%, Google parent Alphabet Inc. down 6.2% and Facebook Inc. falling 7%. The Nasdaq 100, which hit a record a month ago, slid 1.7%, bringing its decline since May 3 to 11% and trimming its 2019 gain to 11%.