Shares of the largest technology companies dipped in the first trading day of 2021, a bumpy start for the sector that posted some of the highest gains last year.
Big Tech's Monday drop came amid a broader market sell-off, attributed to rising Covid-19 cases and anticipation of Tuesday's Georgia runoff elections. Democratic wins could result in increased tax rates and more progressive policies, which may pressure equities, Oppenheimer's John Stoltzfus said Monday. The Dow Jones Industrial Average closed down 1.3%, while the S&P 500 fell 1.5%.
Here's a quick look at what the big tech stocks did on Monday compared with how they closed out 2020: