Worries about antitrust in Google and Facebook scare high flyers
The US stocks are hitting new session lows as concerns about antitrust investigations of Facebook and Google have the tech giants feeling pain. Alphabet is down -6.6%. Facebook is down -8.19%. Amazon is also down -4.58%. Microsoft is down -2.05. Apple is hanging in there and remains up 0.17% but has been hit hard of late on China concerns.
The major indices are showing.
- S&P down -16.5 points or -0.60% at 2736
- Nasdaq is down -116.2 points or -1.55% at 7337.51
- Dow is down -76 points or -0.31% at 24737
Looking at the Nasdaq index, the index is testing the swing low from March 8 at 7332.92. The low reached 7334.79
The price today is moving away from the 200 day MA at 7521.25. That MA was broken on Friday and stayed below. On more selling, the 50% midpoint of the move up from the December low will be eyed at 7183.123.