One of the market's biggest fears was realized on Thursday: a massive tech sell-off.
 | THU, SEP 03, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 120.88 | -10.52 | -8.01% | | MSFT | 217.30 | -14.35 | -6.19% | | INTC | 50.39 | -1.86 | -3.56% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAPL | 120.88 | -10.52 | -8.01% | | CCL | 17.58 | +0.87 | +5.21% | | GE | 6.32 | -0.12 | -1.86% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAPL | 120.88 | -10.52 | -8.01% | | AMD | 82.54 | -7.68 | -8.51% | | AAL | 13.36 | +0.13 | +0.98% | |
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One of the market's biggest fears was realized on Thursday: a massive tech sell-off. Shares of Facebook, Apple, Amazon, Alphabet, Netflix and Microsoft all fell sharply, dragging down the broader market. At the S&P 500 sector level, it was tech's worst day since March and it snapped a 10-day winning streak.  Big Tech has been a stalwart on Wall Street, driving the lion's share of the market's rally back to record levels. However, this outperformance by a small group of stocks has raised concern among some market experts over the sustainability of the surge. "There is an echo of 1999-2000 visible in markets and market behaviour," research firm Berenberg said in a note to clients, pointing to rising retail investor participation in certain stocks, like Tesla. Barclays, meanwhile said tech and media names are looking "increasingly bubbly, particularly in the US." This sell-off comes ahead of a widely anticipated U.S. employment report. Economists polled by Dow Jones expect the U.S. economy to have added more than 1 million jobs in August. Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. |
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