Big Tech Sparks Dizzying Swings After Meta Meltdown, Amazon Beat
- Volatility surges to reach highest levels since April 2020
- Meta plunges into value territory after post-earnings crash
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It was a week of polar extremes for Big Tech, which saw stomach-churning swings that ignited the wildest volatility since the pandemic shuttered the U.S. economy in 2020.
The zaniness of the past five days is hard to exaggerate: The Nasdaq 100 Index, which includes some of the world’s technology behemoths, had its best week since December even after Facebook parent Meta Platforms Inc. posted the worst one-day drop in market value in stock-market history, plunging it into value territory.