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Tech Companies See Biggest Decline In Months Following Trump’s Win
Speculation regarding President-elect Donald Trump’s trade and immigration policies is pushing down the tech sector, with tech shares experiencing their largest declines in months.
Apple, Facebook and Alphabet led the plunge as the S&P 500 Information Technology Index dropped 1.7%, marking the worst performance since September, Bloomberg reports. The group has fallen every day since Trump’s victory, yet there isn't an easy explanation for why.
The tech industry largely supported Hillary Clinton over Trump, and Trump accused Amazon CEO Jeff Bezos of using the Washington Post (which he owns) to gain political influence and avoid antitrust investigation. Since last Tuesday’s vote Amazon shares have lost over $30B in value. [Bloomberg]
