Alphabet and Microsoft hit one-year lows after Alphabet's rating is downgraded, igniting a tech sales.

Shares of prominent technology companies fell sharply, bringing down many other U.S. equities with them, after Bank of America analysts downgraded Apple's stock rating.

Microsoft and Google parent Alphabet both saw 52-week lows on Thursday.

The Nasdaq Composite, which is heavily weighted toward technology, increased, but the buying came after the two worst weeks since the start of the Covid epidemic.


Shares of Apple fell
by about 5%.

The Nasdaq is down 31%, Apple stock is currently worth 20% less than it did at the end of 2021.

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