“Dow sheds 400 points as investors ditch technology stocks, Nasdaq drops 2%”
October 4, 2021
“The Dow Jones Industrial Average fell about 430 points, despite a large gain in Merck. The S&P 500 shed 1.2%. The technology-focused Nasdaq Composite was the relative underperformer, dipping roughly 2%.
Large tech shares like Apple, Nvidia, Amazon and Microsoft were lower as investors eyed bond yields. A surge in rates to end September knocked highly valued tech stocks. The 10-year Treasury yield was slightly higher Monday, trading around 1.47%. The 10-year U.S. Treasury yield hit 1.56% last week, its highest point since June, with investors concerned about inflationary pressures and tighter monetary policy.
Social media giant Facebook lost 4% after being accused of a “betrayal of democracy” by a whistleblower who revealed her identity on Sunday…”
https://www.cnbc.com/2021/10/03/stock-market-futures-open-to-close-news.html
These companies will continue to lose money because of the supply chain breakdown plus world wide lockdowns. If these companies want to start making money they better start creating their products domestically. Trying to ship or fly your product from another country is a fail strategy at this point.
Who ever decides to do this will not only stop their company from bleeding out they will make major bank because the supply chain breakdown is going to create huge demand.