Perhaps it’s due to profit taking ahead of earnings season. Or maybe investors became scared early this morning when Samsung said that it expects its Q2 earnings to come in far below analyst expectations due to weakening demand for its mobile products. Whatever the reason, or reasons, traders pummeled tech stocks today in the second day of declines after the market hit an all-time high last week. The tech-heavy NASDAQ fell 1.4% while the Dow Jones Industrial Average was -0.7% to 16,907 after crossing the 17,000 mark for the first time last week. The Dow Jones U.S. Media Index slipped 1.1%. Among the tech companies we watch, Pandora was -7.3% followed by Twitter (-7.0%), Facebook (-3.9%), Netflix (-3.4%), Amazon (-2.9%), Yahoo (-2.8%), and AOL (-2.5%).
Tech Stocks Slammed On Weak Day For The Market
What's Hot on Deadline
'The Brothers Grimsby': Trailer Or Titillating Clip "Shown" On 'Jimmy Kimmel Live' – Which Works Better?
Four Studios Bidding On 'Gone Girl' Author Gillian Flynn's Short Story 'The Grownup': Hot Package Du Jour
Latest Business News
- Hot Berlin Titles: What Buyers Are Buzzing About At The EFM
- Obama & Jeffrey Katzenberg Break Bread After POTUS Fundraisers & Dems Debate
- Obamageddon Is In Effect As POTUS Arrives In L.A. For ‘Ellen’ & Fundraisers – Update
- Les Moonves Says He Has “Free Rein” To Run CBS, But Likes “Stability”
- CBS Q4 Revenues Beat Expectations With 8% Growth In Network Ad Sales
- Pandora Media Shares Hit High Note On Report Of Sale Plans