Is winter coming for global equities?

Alex Burke,  Senior Writer,  No More Practice Education

With Apple recently seeing its worst day of trading in five years, is it time to ask whether the FAANGs have been de-fanged? 

The big tech stocks have been considered the doyens of global equity markets by many investors for quite some time, but consider the impact of Apple chief executive Tim Cook admitting that sales in China had been lower than expected: the company's share price plunged by 10%, losing nearly US$75 billion in market value.  

The Dow Jones Industrial Average dropped by 2.5% on the same day, and the S&P 500 fell by 2.5%. Some of Apple's suppliers were affected too, such as radio frequency chip company Qorvo, whose share price dropped by 9.1%. Facial recognition technology company Lumentum fell by 8.4%, and microchip manufacturers Broadcom, Micron and Intel dropped by 8.9%, 5.3% and 5.5% respectively.  

All of this suggests that when one tech giant suffers, anything connected to it tends

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19 November, 2018

Alex Burke,Senior Writer,No More Practice Education

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