Sunday, December 21st8.0°C
24124
23875

Traders dump technology stocks, leading to a broad market decline; Nasdaq sinks 2.6 per cent

NEW YORK, N.Y. - Technology stocks are sharply lower as traders dump big-name companies that had made huge gains.

Facebook, Google and Netflix — all big winners over the past year — fell sharply, contributing to a rout in the technology sector. Biotech companies, another recent favourite, also took a beating.

The tech-heavy Nasdaq composite plunged 110 points, or 2.6 per cent, to 4,127, its biggest drop in two months.

Other major indexes fell, but not nearly as much.

The S&P 500 index fell 23 points, or 1.3 per cent, to 1,865. The index traded at an all-time high earlier in the day.

The Dow Jones industrial average lost 159 points, or 1 per cent, to 16,412.

As traders dumped tech stocks, they shifted money into less volatile companies like Coca-Cola, Johnson & Johnson and utility stocks.

The Canadian Press


Read more Business News

23041


Recent Trending




Today's Market
S&P TSX14468.26+121.51
S&P CDNX676.54+11.04
DJIA17804.8026.65
Nasdaq4765.38+16.983
S&P 5002070.65+9.42
CDN Dollar0.8610-0.0007
Gold1195.90+2.50
Oil56.50+2.39
Lumber338.00-0.70
Natural Gas3.464-0.196

 
Okanagan Companies
Pacific Safety0.12-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.25-0.03
Cantex0.03-0.005
Anavex Life Sciences0.1726+0.0026
Metalex Ventures0.05-0.005
Russel Metals25.58-0.42
Copper Mountain Mining1.55-0.02
Colorado Resources0.120.00
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.05-0.005
Mission Ready Services0.215-0.01

 
24130


23955

FEATURED Property
208935320-625 Boynton Place
2 bedrooms 3 baths
$444,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


My final thoughts on real estate

This will be the last column I write on real estate. Largely because at the end of the year I will be handing in my license. After 20+ years of working in land development, resort development and rea...


Reflecting on the end of the year

The importance of the end of the year and the Christmas holidays is profound. It is a time to reconnect with family and traditions that have made us who we are. But the year-end has always been a time...


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...

_








Member of BC Press Council


22842