U.S. stock markets are tanking, and tech stocks are plunging too. Which tech companies are weathering the storm and which ones are getting hammered hard?
A weakening economy, increasing federal debt, concerns about the European debt crisis and a weak job outlook are all taking their toll on the Dow Jones Industrial Average, the tech-heavy Nasdaq and the S&P 500. As of 3:10 p.m. ET, the Dow was down 2.7%, the Nasdaq dropped 3.3% and the S&P 500 plummeted 3.0%.
This isn't a one-day event, either. The Dow has dipped by 8.5% since July 21, and there are no signs that a market recovery is coming anytime soon.
How are tech stocks handing the market's decline? We've put together a list of top tech stocks from AAPL to YHOO in order to figure out who the winners and the losers of today's selling frenzy. Any company outperforming the Dow Jones Industrial Average is considered a "winner" in this scenario, as only one tech stock from our group -- Pandora -- is actually up overall.
Here is our list:
Tech Stocks: WINNERS
- Pandora (P): Up 1.5%
- Apple (AAPL): Down 2.0%
- Microsoft (MSFT): Down 2.2%
- Google (GOOG): Down 2.4%
Tech Stocks: LOSERS
- LinkedIn (LNKD): Down 6.9%
- Yahoo (YHOO): Down 6.1%
- eBay (EBAY): Down 5.5%
- Dell (DELL): Down 4.0%
- Hewlett-Packard (HPQ): Down 3.9%
- Oracle (ORCL): Down 3.0%
- Amazon.com (AMZN): Down 3.0%
- Intel (INTC): Down 2.9%