Nasdaq 100 fell 2.5% due to weak earnings and a decline among major tech companies
Published
The Nasdaq 100 index dropped by 2.5% in October. The index includes the shares of the largest non-financial companies traded on the American Nasdaq stock exchange. The decline is linked to weak financial reports and a deterioration in the position of companies in the Big Tech sector.
The market capitalisation of the index fell by more than 1.2 trillion dollars during the same month. Market capitalisation is the total value of all the shares of a company or a group of companies. This amount shows how much value investors have lost.
Intel's shares fell particularly sharply, by 27%. Intel is one of the well-known companies in the world that produce semiconductors, or chips, for computers and other devices. Information about this decline is limited, so not all the reasons for it are known.
These movements show that investors are becoming more cautious towards the technology sector. Although the news comes from the financial markets in the USA, changes on major stock exchanges can affect investments and financial markets around the world, including in Bulgaria. Developments in the indices remain closely watched by investors.
Sources: bloombergtv.bg
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