Silicon Valley took it’s knocks with the rest of the U.S’ financial markets Friday, with tech stocks sinking significantly as fears of a double dip recession increased.
Even the Valley’s giants, Apple and Google, took major hits to share prices, losing millions in just moments. Google dropped 23.65 points while Apple fell 15.20.
Google, Apple and IBM all saw millions wiped off their share prices. Google fell 23.65 points, Apple 15.20 and IBM 7.35 as investors reacted to an uncertain future and left the stock markets in turmoil.
Meanwhile Intel dropped 96 cents per share, Microsoft lost 98 cents, Cisco 67 cents and HP $1.74 in a disastrous day for tech investors.
Analysts believe the hit to the markets could have a large negative effect on firms like Groupon currently going IPO, as well as for newly IPO companies liked LinkedIn, which also saw huge losses in recent trading.
Tech stocks slump amid double dip depression fears
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