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(Bloomberg) – Another week, a new sale for the world's biggest technology and Internet values.
Investors hoping for the worst month of technological stocks for almost a decade were greeted more favorably on Monday, with Amazon.com Inc. down 5.7% and Netflix Inc. down 6%. Facebook Inc. was down 0.7% at mid-day, ahead of its earnings report released Tuesday. Google parent Alphabet Inc. slipped 2.1%.
"Growth concerns have changed sentiment," said Ron Josey, senior executive and senior analyst for Internet and Digital Media at JMP Securities, Amazon and Alphabet. "Amazon warned against growth, Google did it, and of course last quarter, Facebook plunged into slowing growth. I think that anticipated sales anticipate a further slowdown in the dissemination of results. "
The Nasdaq 100 index yielded 0.5% at 13:49. At New York. If the index remains lower, it would be the first time in more than three years that it would wipe out an intra-day gain of at least 1.8%.
The information technology group was among the bottom performers of the S & P 500 on Monday. The sector fell nearly 10% this month in a context of rising volatility. This is on the pace of the biggest monthly decline since November 2008.
On Monday, the British government proposed a digital service tax targeting 400 million pounds a year ($ 512 million) from companies such as Alphabet and Facebook.
(Add the analyst's comment to the third paragraph and the Nasdaq 100 data to the fourth.)
– With the help of Lu Wang.
To contact the reporters on this story: Jeran Wittenstein in San Francisco at [email protected], Ryan Vlastelica in New York at [email protected]
To contact the editor responsible for this story: Catherine Larkin at [email protected]
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