TECH COMPANIES GONE WEEK | PROBLEMS OF US TECH SHARES WEAKNESS | 2020

 TECH COMPANIES GONE WEEK

U.S. markets lost ground for the third day in a row as technology counters continued to sell. The Dow Jones industrial average fell 245 points, or 0.9%, to 27,657 on Friday. S&P declined 38 points (1.1%) to close at 3,319. The Nasdaq was further up 117 points (1.1%) at 10,793. Versace trailed S&P and Nasdaq for the third week in a row. Previously, only in September 2019, this level was set back. Experts say sentiment has been weakened by a lack of reconciliation between Republicans and Democrats over a proposal to provide more financial assistance to the public as a continuation of the previously announced hefty package of $ 2 trillion in the wake of COVID‌-19. He added that the Federal Reserve's unresponsiveness to the new package as part of the latest policy review was coupled with this.

Sales have been on the rise for a few days at technology counters that have been buzzing the markets for the past while. With this, the markets have been moving with the downside since the beginning of this month. Amazon and Facebook lost more than 5 percent this week on FAAMNG stocks, which are strengthening the markets. During the month, Facebook, Amazon, Alphabet, Microsoft, and Netflix lost 10 percent. Apple fell a further 17 percent. Apple fell 23 percent from a recent high. As a result, the company evaporated $ 500 billion in market value.

Apple fell 3.2 percent over the weekend on New Age tech counters known as Fang Stocks. Elsewhere, Alphabet lost 2.4 percent, Amazon 1.8 percent, Microsoft 1.2 percent, and Facebook 1 percent. Modernna Inc. strengthened by 3% and Astrogenica by 1%. Pfizer lost 0.5%. Johnson & Johnson rose 1.4 percent. Chevron weakened 0.75 percent.