The fall in US technology giants triggered instability in the rest of the market, causing stock market indexes to creep down. The slowdown in revenue growth and the scandals associated with privacy, called the reasons for the shaken investor confidence in technology companies.
These scandals are protracted, and stocks of companies have been declining for several weeks in a row. Compared to the 52-week maximum, Facebook shares fell by 40%, Amazon shares – by 29%, Alphabet (Google) – by 22%, Apple – by 24%.
The latest news was that the company reduced the production of new iPhones, as they still do not meet sales expectations. As for the rest of the market, there is a strong pressure of fears over the trade war between the United States and China, which are aggressively exchanging duties in various fields.