Will Apple and Microsoft Finally Give Way in the Stock Market's Downturn?
The stock market continued to see big ups and downs during the course of trading on Thursday. Market participants are having a lot of difficulty deciding whether the major macroeconomic factors affecting Wall Street are short term in nature or will have longer-term implications, and as attitudes change, stock market moves have been violent. As of 12:30 p.m. ET, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 187 points to 31,647. The S&P 500 (SNPINDEX: ^GSPC) dropped 16 points to 3,919, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) gave up 4 points to 11,361.
Until recently, giga-cap technology stocks like Apple (NASDAQ: AAPL) and Microsoft (NASDAQ: MSFT) had large avoided the full brunt of the bear market in the Nasdaq, even as smaller companies lost 50% to 80% or more of their value. However, over the past couple of months, some of the largest companies in the market, including Meta Platforms (NASDAQ: FB), Netflix (NASDAQ: NFLX), and Amazon.com (NASDAQ: AMZN), started to move sharply lower. Those big-name moves put a bigger dent in market capitalization-weighted benchmarks.
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Source Fool.com
