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Dot-Com Bubble 2.0 Is Bursting: Tech Stocks Are Already Down Half A Trillion Dollars Since Mid-2015

by Michael Snyder, The Economic Collapse Blog:

Do you remember how much stocks went down when the first dot-com bubble burst?  Well, it is happening again, and tech stocks are already down more than half a trillion dollars since the middle of 2015.  On Friday, the tech-heavy Nasdaq dropped to its lowest level in more than 15 months, and it has now fallen more than 16 percent from the peak of the market.  But of course some of the biggest names have fallen much more than that.  Netflix is down 37 percent, Yahoo is down 39 percent, LinkedIn is down 60 percent, and Twitter is down more than 70 percent.  If you go back through my previous articles, you will find that I specifically warned about Twitter again and again.  Irrational financial bubbles like this always burst eventually, and many investors that got in at the very top are now losing extraordinary amounts of money.

On Friday, tech stocks got absolutely slammed as the bursting of dot-com bubble 2.0 accelerated once again.  The following is how CNBC summarized the carnage…

The Nasdaq composite fell 3.25 percent, as Apple and the iShares Nasdaq Biotechnology ETF (IBB) dropped 2.67 percent and 3.19 percent, respectively.

Also weighing on the index were Amazon and Facebook, which closed down 6.36 percent and 5.81 percent, respectively.

LinkedIn shares also tanked 43.63 percent after posting weak guidance on their quarterly results.

Overall, LinkedIn is now down a total of 60 percent from the peak of the market.  But they are far from the only ones that have already seen their bubble burst.

Many of the biggest names in the tech world have gotten mercilessly hammered over the past six months of so.  Just look at some of the famous brands that have already lost between 20 and 40 percent of their market caps…

Yahoo (YHOO) shares are off 39%, and Netflix (NFLX), the best-performing stock in the S&P 500 last year, is now off by 37% from its 52-week high.

Likewise, (PCLN) is off 31% and eBay (EBAY), 22%.

But there are other very big tech companies that have seen stock collapses that completely dwarf those numbers.  Here are some more absolutely stunning statistics from USA Today

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3 comments to Dot-Com Bubble 2.0 Is Bursting: Tech Stocks Are Already Down Half A Trillion Dollars Since Mid-2015

  • rich

    Madoff Whistleblower Warns of 3 New Ponzi Schemes, 1 Bigger than Bernie’s

    Madoff’s scam bilked well over $50 billion.

    Almost 16 years after Harry Markopolos initially warned the SEC in vain that Bernie Madoff was operating a massive Ponzi scheme, Markopolos says he has found three more schemes that are multi-billion dollar pyramids of fraud.

    One of them, he told ABC News, is even bigger than Madoff’s epic scam, estimated at fraud in the neighborhood of $65 billion.

    For now, Markopolos is declining to name names, because he wants the regulatory and enforcement agencies to get the information first.

    Where are all the investigative journalists?????????????

  • Craig Escaped Detroit

    I wonder if those Ponzi people, just happen to be AMISH?

    Or perhaps they are IRISH? Swedish? Dutch? Hindu?

    Nope. I don’t think so. If I had to make a WILD guess, I’d be willing to bet money on those scammers might be “Jewish”? Hmmmm. What would make me think such things?

    Of course, the BIGGEST PONZI is “The FED” (& IRS), and Social Security, Welfare, etc. Taking from one group, to keep the other group well supplied.

  • Rob C

    ….KABOOM…………………..KABOOOM……. BOOM…..

    Don`t worry we got f-15s guarding the football game !

    Ain`t Amerika Great

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