Y Combinator’s Garry Tan Goes to the MatRead more

Briefing
markets

Tech Stocks Fall as New Covid Variant Leads to Market Sell-Off

By
Aidan Ryan
· · Source: The Information

Tech stocks dropped sharply amid a market-wide sell-off on Friday triggered by news of a new Covid-19 variant discovered in South Africa. The S&P Global 500 fell 2.6% while the tech-heavy Nasdaq fell 2.2%. Some of the hardest hit stocks in Friday’s sell-off were ride-hailing companies Lyft and Uber, which respectively fell 5.6% and 3.7%, and rental company Airbnb, which fell 3.5%. Shares...

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