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Tech stocks plunged in October, suffering worst month since the 2008 recession

“Technology stocks just capped off their worst month since the depths of the recession a decade ago” writes Ari Levy for cnbc.com. The Nasdaq plunged 9.2 percent in October, its steepest monthly drop since a 10.8 percent decline in November 2008.All the biggest tech stocks suffered big losses in October, led by Amazon’s 20 percent decline and Alphabet’s 9.7 percent drop. Investors pulled away from the stocks that have delivered the best returns in recent years, as concerns about President Trump’s trade war and rising interest rates sent fund managers into assets that are perceived as safer should the economy turn.
 
Source: cnbc.com



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