Why Alphabet Stock Fell 10.1% in September
Shares of Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) fell 10.1% in September, according to data from S&P Global Market Intelligence. The search giant and tech conglomerate was caught up in the general technology sector sell-off following a blockbuster August. However, Alphabet also had the added headwind of a looming antitrust investigation from the U.S. Justice Department.
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After a sterling month of August when many of the technology and especially FAANG stocks hit all-time highs, things turned hard in September. Profit-taking, combined perhaps with some apprehension about the upcoming presidential election, led to the sell-off across the technology sector.
Source Fool.com
