Apple, Microsoft, Amazon, other tech stocks tumble into the red

Big tech names such as Apple, Microsoft, Amazon, Tesla, and Nvidia were deep in the red ahead of Monday’s market open.

stocks

Lina Saigol for Barron’s:

Shares of Tesla fell 2.7% in premarket trading, while Apple was nearing a 3% loss, and Nvidia was off 4.5%.

Other tech giants also dropped on Monday with Microsoft falling 2.7%, while Amazon dropped 3.7% and Google parent Alphabet by 3.4%.

The S&P 500 is poised to enter a bear market on Monday amid fears of a looming recession and more aggressive Federal Reserve action, triggered by a report on rising inflation.

Ahead of Monday’s open, S&P 500 futures dropped 2.4% to 3,804 according to SPX to Dow Jones Market Data. The S&P 500 has to dip below 3,827 points to enter a bear market —defined as a 20% fall from recent highs.

MacDailyNews Take: Patience.

Be fearful when others are greedy and greedy when others are fearful. – Warren Buffett

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4 Comments

  1. Yes, stocks are feeling it big time. Something consumers have been feeling for months.

    Bank of America story over the weekend noted technically we are in a recession. Certainly the Biden supporting partisan Big Media will have no choice, cannot cover it up, once RECESSION formally official.

    This morning paid $5.49 a gallon for home heating oil. Two years ago under Trump in June 2020 it was $1.75 a gallon. Gasoline locally is between $5.19 & $5.48 a gallon. Two years ago under Trump in April 2020 it was $1.61 a gallon. Two years ago my favorite Porterhouse steak was $3.99 a pound on sale. Today it cost $12.99 a pound on sale.

    Should be crystal clear to everyone, particularly the woke Leftists that know everything and have ALL the answers to make the world a better place, well, as usual — they have NOTHING.

    Democrat controlled swamp Washington FAILING miserably day after day, all talk, excuses and Russia blame game. WORST, no action with an aging fool in the White House incapable of solving ANYTHING. God help us…

    1. The far Left Aussie, probably still locked in his Australia house by government police, asks for PATIENCE?!?!?

      Well brainless, people in the USA greatest country on Earth, have been patient for over a year. What the hell do you think we are doing!

      Obvious you are too stupid to realize oil and gas prices are rising daily and PROJECTED to last well into next year.

      Seniors on fixed incomes are choosing between paying for medications or food and will get worse come wintertime how they will pay to heat their homes. Not to mention the growing rise in home foreclosures.

      Totally obvious you are clueless regarding a U.S. government report, as a result of the highest inflation in 41 years by an incompetent president and Congress, inflation is costing the average citizen almost $400 MORE per month.

      For many of us $400 pays for our monthly food bill, gasoline, electricity, water and more. Now, 2-3 times higher.

      People are increasingly day by day as it gets WORSE, unable to afford their monthly expenses. Small businesses, particularly restaurants and bars shuttered for good, seniors going broke living from paycheck to paycheck, truck drivers quitting to take jobs elsewhere — the list goes on.

      So the only advice from Road Warrior locked in his garage, to lawmakers to fix economic hardship coming from a smug leftist, not affected or empathetic regarding others, is to CONTINUE to show “Patience.” Wow. What supreme genius. What great advice to solve all the world’s problems. Not!

      For all the woke, we are going broke. A barrel of oil the day Biden took office was $37.00. As of a minute ago, BRENT CRUDE is $122.3, UP +0.24%.

      The only patience I have left, is the day Biden is soundly voted OUT of office taking the brainless laughing hyena with him.

      Thank you for not responding…

  2. Supply and demand, folks.
    During the pandemic (Trumps reign), lockdowns killed demand, so suppliers lowered prices to encourage sales. As the pandemic declined (Bidens term), demand rose and savvy selfish suppliers raised prices to make up for earlier lost sales. Sorry you don’t get basic economics as a grownup. Blame the oil companies with RECORD PROFITS taking your money, not a president who cannot control prices in a free market economy.

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