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Tech stocks got creamed in Monday's sell-off, with mega caps shedding nearly $200 billion

Key Points
  • The Dow Jones industrial average plummeted more than 1,600 points at one point.
  • Technology stocks plunged after leading the market's recent rally.
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Chip stocks turn volatile in sell-off

How the mighty have fallen.

After leading the stock market to fresh records on a seemingly daily basis, technology stocks tanked on Monday.

The five giants -- Apple, Alphabet, Microsoft, Facebook and Amazon -- each sank at least 2.5 percent. Shares of many companies valued at $100 billion or more changed hands at more than 200 percent the usual volume.

The S&P 500 Information Technology Index dropped 4 percent, almost matching the decline in the overall S&P 500. The Dow Jones Industrial Average plummeted over 1,000 points, closing down 4.6 percent. Among technology companies in the Dow, Cisco was the worst performer, dropping 5.3 percent.

The result was $194 billion slashed from the market capitalization of top tech stocks, according to data collected by FactSet and analyzed by CNBC. About $90 billion of that was in just four stocks: Facebook, Amazon, Alphabet and Netflix.

big tech selloff

Market cap Monday Market cap Friday
Apple796.07,816.47
Alphabet738.7,777.54
Microsoft677.58,706.69
Amazon672.91,692.25
Facebook524.53,550.63
Intel208.35,215.98
Verizon205.99,216.11
Oracle199.07,207.52
Cisco191.52,202.34
IBM141.21,147.23
NVIDIA129.5,141.51
Netflix110.34,116.05
Total loss (billions USD): $194.55 billion