Investors started to sell off sales in Facebook, Apple and other tech companies last week, before enjoying a brief reprise on Monday. However, a drop in the share prices of tech companies continued overnight.
Goldman Sachs was recommending investors “sell” shares in Apple, while Tesla recorded its worst day of trading in the firm’s history.
The sell offs are likely to impact the FTSE 100 at the start of trading today.
The London market suffered yesterday due to the sell offs and due to the uncertainty over a no deal Brexit spooked investors.
After making gains on Monday it was unable to continue the bull run.
The Index clung to its opening mark, down 7.1 points or 0.1 percent at 5930.3.
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8.18am update: FTSE 100 remains steady
The FTSE-100 index at 7.44am was unchanged at 5930.30.
6.00am update: FTSE 100 Tuesday trading recap
On Tuesday the biggest FTSE 100 risers were JD Sports ahead 71.2p at 795.8p, DS Smith up 21.9p at 294.8p, Experian 125p stronger at 2,924p and RSA Insurance 18.1p higher at 459p.
The biggest FTSE 100 fallers were Associated British Foods down 79p at 1,959p, Whitbread off 90p at 2,451p, M&G 5.35p lower at 160.1p and Royal Dutch Shell 32.8p weaker at 1,023.6p.
Published at Wed, 09 Sep 2020 05:00:00 +0000