Though late-morning and afternoon trading on Wall Street has seen all four stocks bump up a bit, this morning looked really dismal for the local tech sector as the stock prices of Apple and Yahoo neared 52-week lows and both Twitter and Square were trading at just pennies over their IPO prices, as Socketsite and CBS 5 took note.
Furthermore, big tech stocks Facebook and Google both took a battering this morning, and both are down between 2 and 3 percent as of this writing.
As CBS reports, "The plunge coincided with the continued drop in the price of crude oil," and this is because "Investors worry that the global glut in crude will cause deep damage to oil and gas companies and lead to more bankruptcies and layoffs in the sector."
Also, more ominous figures: 1300 stocks hit new lows during morning trading, the highest number recorded since the dark days of November 2008.
Netflix has recovered from a big, 7-percent drop this morning, with it's stock near its closing price yesterday. Yahoo remains down 5 percent, 1.57 points below its Tuesday close; Square is down 3.8 percent; and Twitter is now up 3 percent, a half point above yesterday.
Needless to say, off in the near distance, we keep hearing that tell-tale pop-pop.