Is The Tech Stock Rally Coming To An End?

September 14, 2018

The great bull run for the FAANG stocks and the rest of the tech sector is showing signs that it might be coming to an end.

Since Amazon briefly topped the trillion dollar market valuation level a week ago, shares have fallen nearly 3%.

Shares of Facebook are also down about 3% in the past week, following COO Sheryl Sandberg’s testimony in front of the Senate about Russia’s use of social media to try and interfere with the 2016 presidential election.

(Twitter CEO Jack Dorsey also went to Washington — and Twitter shares have since plunged 10%.)

But the other FAANG stocks have taken their lumps lately, too. Netflix, Apple and Google owner Alphabet — which didn’t send a high ranking official to last week’s Capitol Hill hearings — are all down about 3% to 5% in the past week.

Read more at CBS 5 - San Francisco

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