PEAK TECHNOLOGY? Facebook, Amazon, Netflix, Google, Apple stocks hit the deck

Billions wiped off the charts – and Twitter falls below its stock-market debut


Thursday was a rough day on Wall Street for many of the biggest names in the tech industry, as stocks dipped across the board.

The Dow Jones Industrial Average fell by 2.06 per cent, and the Nasdaq 100 Index was down 2.8 per cent, on the day Facebook, Amazon, Netflix, Google, and Apple all saw their share prices dip – wiping $49bn off the five giants' total market value. According to Bloomberg data, it was their worst day since January 2013.

Twitter's share price fell below its IPO level as the biz continues to struggle with a shake-up during which CEO Dick Costolo quit. Shares were down 5.83 per cent, closing at $26.

For Apple, the day brought a two per cent drop in stock price as the Cupertino behemoth's share price slipped to $112.65. Apple's stock has been taking a beating this month in the aftermath of its last quarterly report.

Netflix, meanwhile, took a 7.84 per cent hit to its shares, closing at $112.49 for the day, down from $122.06.

Other companies seeing a loss on Thursday included Facebook, down 4.98 per cent to close at $90.56; Amazon, down 3.2 per cent to $515.78; and Google, who saw its share price fall by 2.13 per cent, ending the day at $646.83.

Also taking a hit was HP, who felt a 1.4 per cent drop in stock price to close at $27.35. Earlier today the company reported dismal quarterly numbers ahead of its looming business split. ®

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