Stock Market Plunges, Taking Tech Stocks Down With It

The freefall in stocks continued on Monday with the Dow Jones losing 5.53% and the NASDAQ dropping 6.9% on news of Standard & Poors downgrading its rating of U.S. government-issued debt.



Tech stocks were not spared in the selloff, with some names – including those that recently IPO’d – falling sharper than the broader indexes. Here’s how some of the publicly-traded companies that awdp follows fared on Monday:



- LinkedIn -17.38%

- eBay -8.02%

- Zillow -7.35%

- Pandora -7.62%

- Netflix -6.00%

- Google -5.70%

- Yahoo -5.54%

- Apple -5.46%

- Microsoft -4.67%

- Amazon -4.44%



Another big storyline emerging out of the last several weeks of market turmoil surrounds what will happen with yet-to-go public companies like Groupon, Zynga and even Facebook. Just a month ago, it seemed just about every Internet company to go public was soaring higher upon its debut as talk of a bubble went seemingly unanswered. Now, with major markets down more than 15% from their highs, it appears that some companies may have missed their window to IPO at a premium valuation – if at all.

Author: / Posted: 09-08-2011