It’s been a rough few days for the stock market. But it hasn’t been that bad for tech.
Netflix, Amazon, Tesla, Facebook and Google are all performing better than the Dow or the S&P 500 for the year
What stock rout?
Bryan R. Smith/AFP/Getty Images
Rani Molla was a senior correspondent at Vox and has been focusing her reporting on the future of work. She has covered business and technology for more than a decade — often in charts — including at Bloomberg and the Wall Street Journal.
Yesterday, the Dow Jones Industrial Average — an index of 30 top stocks that includes Apple and Exxon Mobil — dropped 1,175 points, the biggest single-day point drop in the index’s history.
But the more important context is that by proportion it fell 4.6 percent, which last happened in August 2011. The markets have heated up in the past year, and some saw yesterday’s downturn as a needed correction.
Some major tech stocks, however, have largely been up for the year, outperforming the Dow or the S&P 500. Netflix’s stock price is up 33 percent while Amazon’s is up 19 percent, according to FactSet data. A notable exception is Apple, whose stock is down nearly 8 percent this year after reporting disappointing iPhone sales.
In the past week, however, like the Dow these stocks took a dip. Netflix, Alphabet/Google and Square fell more than 8 percent in the past five trading days; the Dow and the S&P 500 are both down over 6 percent.
Year to date, the Dow is down 1.5 percent and the S&P 500 is down 1.3 percent.
The Dow seems to be doing better today.
This article originally appeared on Recode.net.
