Stocks Plummet In The Tech Industry

Apparently, the bug that felled the financial industry is contagious and has now started to affect the tech industry. For weeks now, stocks and sales have been plummeting. Dell and Apple, for example, have both experienced declines of about 10-15%. And even though they have been ramping up their advertising, they have been unable to reverse the trend.

Google down 50%!

The biggest surprise was Google. Yesterday, according to Nasdaq, their stock fell to almost 50% of the opening value in less than 5 minutes. Investors were horrified. We thought it was the end of the world! But alas, it was a mistake.

That’s right, the horrific decline was merely a stock price error. Some sales did go through at the rock-bottom price, but they were repealed. And at the end of the day, according to the price adjustment, Google stock was actually up over 5%.

Trading Markets Susceptible To Problems

In this economic climate, the last thing that investors need are more mistakes to make them even more uneasy about the markets. However, many predict that problems like these will persist. NASDAQ, for example, is an all-electronic venue, meaning that it may easily be susceptible to glitches and other electronic problems.

Real Declines

Looking ahead, it is likely that stocks will continue to plummet in the tech industry. But for now, we think that it is unlikely to have a great affect on certain larger companies, such as Google, which generate most of their revenue from advertising. It will be interesting to see what happens in the coming months.