After the election of Donald Trump, the stock market bounced back in every sector benefiting from a larger economy, except for technology. Stocks in the computer and software areas suffered losses and were a part of the FANG block, which stands for Facebook, Amazon, Netflix and Google.
Each of the FANG stocks dropped by at least 1.9% and the Nasdaq 100 dropped by 1.6%, which is the most since September 9th.
Some are concerned with the possibility of policies from Trump on overseas trade, which is one area US technology companies thrive. However, others don’t think it’s about the election, considering the group has surged by about 11% in 2016.