New York Securities Fraud Lawyers Blog
Is another tech-based market crash impending? Are the “FANG” stocks in your best interest?
Tech-based stocks have been facing volatility lately as artificial intelligence (AI) and chip related issues arise. For example, NVDA (Nvidia) dropped over 7% yesterday and META (META Platforms) dropped nearly 3.4%. As for 2024 to date, four big FANG names have been on a downward trend – META, AMZN (Amazon.com), NFLX (Netflix), and GOOGL (Alphabet). Is your portfolio overconcentrated in FANG stocks? Are you “chip-wrecked”? Were these investment recommendations made in your best interest given your goals and needs? If you incurred substantial losses, you may have a case. You need to contact a Tech Stock law firm, like Malecki Law in New York, to review your situation.
Yesterday, on August 5, 2024, financial markets faced a crash worldwide, partially stemming from Japan’s Topix and Nikkei plummeting, 24% and 12% respectively. Yesterday was the worst day in the markets for Japan since the year 1987, this may be derived from the Bank of Japan increasing interest rates under 0.1% to 0.25% just last week, the greatest it has been in over fifteen years. The United States markets had a reactionary slide, including the S&P 500, which dropped 3% in just one day, this was the worst drop since September 2022. However, the S&P is still up nearly 9% for the year, to date. Global financial news should be followed carefully as Japan, China, South Korea, and Taiwan are some of the countries that manufacture most of the chips.