Facebook, Amazon, and Tech Stocks Slide


The stock market seems to be on a downward spiral—with conditions nearing bear market territory—and investors aren’t worried, MarketWatch reported on Monday. Facebook lost -0.55% on Monday and Amazon lost -0.39%, marking the second day in a row that the stocks have slid. The NASDAQ Composite, the benchmark for technology stocks, lost -1.82%. The broader market also suffered, with the Dow Jones closing with a loss of -1.10% and the S&P 500 closing -1.42% lower at 1,853.44—its lowest level since April 2014.

Wall Street, however, seems unconcerned, according to MarketWatch. On Monday the VIX, a volatility measure which is informally known as investors’ “fear gauge,” sat only six points higher than its long-term average of 20. “After seven straight weeks of volatile action in the market, there is panic exhaustion. For investors, this is the new norm,” Randy Frederick, managing director of trading and derivatives at the Schwab Center for Financial Research, told MarketWatch. Read more at MARKET WATCH.