US markets slide, wiping $140bn off tech giants

New York Times:

Stocks fell on Tuesday, after President Trump sowed confusion over the status of a truce in the trade war between the United States and China, while the bond market, often considered a safe haven for investors, sent a stark warning about expectations for an economic slowdown.

The state of play in tech, via CNBC:

  • Facebook fell 2.2 percent, losing $7.6 billion in implied market value
  • Amazon fell 5.9 percent, losing $50.8 billion in implied market value
  • Apple fell 4.4 percent, losing $38.5 billion in implied market value
  • Netflix fell 5.2 percent, losing $6.5 billion in implied market value
  • Alphabet fell 4.8 percent, losing $37.5 billion in implied market value

Panic? Wired, two days ago:

It signals a recognition that these companies are maturing, face new challenges from within, from each other, from shifting macroeconomic winds, and from regulators. The massive run-up in share prices this summer may not have been a last hurrah, but it’s likely that it will mark the end of this latest euphoria stage.