Microsoft and other tech companies hit hard in stock plunge

If you have been paying attention to the stock market in the last couple of weeks you know that it hasn't been the best of times. So far stocks as a whole have dipped down a whopping 15 percent in that time period. That includes Monday when the Dow Jones industrial average plummeted 5.6 percent. The S&P 500 was even lower on Monday at 6.7 percent. Finally the Nasdaq Composite, which has a number of tech companies, dropped the most on Monday at 6.9 percent.

AllThingsDigital.com reports that all major tech companies have taken at least some kind of stock hit, although some are weathering this correction better than others. Apple, once the high flying stock to own, saw its stock price go down 5.5 percent today and has gone down 11 percent in the past five days. Microsoft's stock got hit with a 4.7 percent stock price loss on Monday and has lost a total of 10.2 percent in the last five day. Google's stock price went down 5.7 percent today and has gone down 10 percent in the last five days.

Other tech-based companies have not fared as well on the stock market. For example, eBay's stock price went down 8 percent on Monday and has gone down 18.4 percent in the last five days. The largest stock loss from a tech based company is for the LinkedIn social networking service which launched its IPO earlier this year. Its stock price went down a whopping 17.4 percent just on Monday. In the last five days its stock price has gone down an astonishing 27.5 percent.

Report a problem with article
Previous Story

Windows Phone's app general manager departs

Next Story

Take-Two Interactive reports latest financial results

19 Comments - Add comment