On Friday, September 4, 2020 US Stocks are trading down in premarket. Apple Inc. (NASDAQ:AAPL) shares are trading down at -3.35 in pre-market.
Shares of Amazon.com, Inc. (NASDAQ: AMZN) slid -49.20 in premarket activity on Friday.
On Friday, September 4, 2020, Zoom Video Communications Inc (NASDAQ: ZM) stock retreated -15.12% in premarket trade.
The tech stocks hammered on Thursday as a sea of red for Apple, Tesla, Microsoft, and Zoom Video Communications were seen and the selling wasn’t limited to technology stocks but the small-caps RUT also fell -2.99% and value stocks VLUE slump -2.34%. Only a few travel stocks actually in green territory.
Tesla Inc (NASDAQ: TSLA) shares fell -21.96% on Friday in premarket activity and leading the tech sector decline.
Microsoft Corporation (NASDAQ:MSFT) shares slumped -2.15% in premarket trade on Friday.
A senior market analyst, Asia Pacific, at Oanda, Jeffrey Halley says,
“Stock markets got a well overdue thumping with big tech leading the way south. The technical expression is a downward correction in overbought stocks after an intense period of one-way price action higher,”
“For the rest of us, the market was long and wrong, and now some of their P&L [profit and loss] is gone.”