Why Market Indexes and Tech Stocks Plunged on Monday
Major technology companies, particularly Internet and FAANG (Facebook, Apple, Amazon, Netflix, and Google) stocks, tumbled on Monday, pulling down the market indexes. The sell-off was a result of investor concerns about global trade, US politics, and economic growth. Waning iPhone demand, disappointing sales guidance from JD.com (JD), and trade war fear also weighed on tech stocks.