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Big Tech Stocks’ Latest Dive Snuffs Out Hopes They’ve Hit a Bottom

  • Alphabet and Amazon find plenty of room for further declines
  • Snap’s weak forecast is a catalyst for renewed turmoil
Updated on

Megacap technology stocks sank again along with hopes that this year’s selloff has reached the point of exhaustion. 

Google parent Alphabet Inc. tumbled 5% on Tuesday after Snap Inc. cut forecasts issued just a month ago, citing deteriorating macroeconomic conditions and raising concerns about a broad slump in digital advertising.