Kokomo Tribune; Kokomo, Indiana

National news

April 12, 2014

Once-soaring tech stocks sink in sobering comedown

SAN FRANCISCO (AP) — The stock market's laws of gravity are ravaging its highest fliers.

Just look at the list of technology trailblazers whose values have plummeted from record highs during the past few weeks. Investors have re-focused on safer sectors such as utilities, health care and consumer staples instead of companies that promise potential growth from online services that are building huge audiences.

Stung by the abrupt change in sentiment, the stocks of recent stars such as Netflix, Facebook, Twitter and LinkedIn are 20 percent to 45 percent below their recent peaks. The steep downfall is raising questions about whether this is just a fleeting fit of fickleness or the foreshadowing of another market bubble about to burst.

The tech-driven Nasdaq composite index closed at nearly 4,358 early last month, its highest level since the 2000 peak, and has shed nearly 360 points, or 8 percent, since then.

Optimists expect a rebound. They point out that technology remains a bright spot in an otherwise dreary economy as software, computers, mobile devices and the Internet fill increasingly instrumental roles in work, entertainment and communications.

"Tech is where the action is," says longtime industry analyst Roger Kay.

Pessimists view the tech sector as Ground Zero for a long-overdue reckoning. They say the stock market that has been pumped up by the flood of money that the Federal Reserve has funneled into the long-term bond market since the financial meltdown of 2008 decimated the economy. Now, that those government-backed bond purchases are tapering off, people are starting to realize "the only thing holding this balloon up is the Fed blowing air in it," said Fred Hickey, editor of The High-Tech Strategist newsletter.

That's why he believes investors are parachuting from stocks that had soared to dizzying heights in a short period of time.

Text Only | Photo Reprints
National news
  • Police Body Cameras [Duplicate] Ferguson fallout: A call for police 'body cams' NEW YORK (AP) — What if Michael Brown's last moments had been recorded? The fatal police shooting of the unarmed black 18-year-old in Ferguson, Missouri, is prompting calls for more officers to wear so-called body cameras, simple, lapel-mounted gadge

    August 22, 2014 1 Photo

  • Mexico Dialing Deportees-9 [Duplicate] Deported Mexicans find new life at call centers TIJUANA, Mexico (AP) — Henry Monterroso is a foreigner in his own country. Raised in California from the age of 5, he was deported to Mexico in 2011 and found himself in a land he barely knew. But the 34-year-old Tijuana native feels right at home as

    August 22, 2014 8 Photos

  • Alaska Primary Senate [Duplicate] GOP's Senate candidate: Alaska is my home, too ANCHORAGE, Alaska (AP) — The winner of Alaska's Republican Senate primary, Dan Sullivan, successfully turned back tea party opposition during an at-times contentious 10-month race. Next up, Democratic Sen. Mark Begich, who has tagged Sullivan as an o

    August 21, 2014 3 Photos

  • Perry Indicted [Duplicate] Texas Gov. Perry says indictment is abuse of power AUSTIN, Texas (AP) — Republican Texas Gov. Rick Perry vowed Saturday to fight a criminal indictment in a defiant response that showed an old slice of swagger that he's kept holstered lately while seeking to remake his image for a potential 2016 presi

    August 17, 2014 2 Photos

  • Food and Farm Kentucky Hemp [Duplicate] Hemp homecoming: Rebirth sprouts in Kentucky MURRAY, Ky. (AP) — Call it a homecoming for hemp: Marijuana's non-intoxicating cousin is undergoing a rebirth in a state at the forefront of efforts to reclaim it as a mainstream crop. Researchers and farmers are producing the first legal hemp crop

    August 17, 2014 3 Photos

  • Police Shooting Missouri-3 [Duplicate] Ferguson-area native tasked with keeping peace FERGUSON, Mo. (AP) — In the days since Missouri Highway Patrol Capt. Ron Johnson took charge of a volatile situation that threatened to turn ugly, tragic or both, his calm-yet-commanding presence has captured international attention. But when it come

    August 17, 2014 4 Photos

  • Police Shooting Missouri-9 [Duplicate] Gov declares emergency, imposes curfew in Ferguson FERGUSON, Mo. (AP) — Missouri Gov. Jay Nixon declared a state of emergency Saturday and imposed a curfew in a St. Louis suburb where police and protesters have clashed after a black teenager was shot to death by a white police officer a week ago. Ni

    August 16, 2014 9 Photos

  • Senate Montana-3 [Duplicate] Montana Democrats choose new Senate candidate HELENA, Mont. (AP) — Montana Democrats on Saturday selected a little-known state lawmaker named Amanda Curtis as their candidate for U.S. Senate after Sen. John Walsh dropped out amid plagiarism allegations from his time at the U.S. Army War College.

    August 16, 2014 4 Photos

  • APTOPIX Police Shooting Missouri [Duplicate] Police ID officer, allege teen robbed store FERGUSON, Mo. (AP) — Police on Friday identified the officer who fatally shot an unarmed black teenager and released documents alleging the young man had been suspected of stealing a $48.99 box of cigars from a convenience store in a “strong-arm” rob

    August 16, 2014 12 Photos

  • SeaWorld plans bigger killer whale environments NEW YORK (AP) — After more than a year of public criticism of its treatment of killer whales, SeaWorld said Friday that it will build new, larger environments at its theme parks and will fund additional research on the animals along with programs to

    August 15, 2014

Latest news
Featured Ads
Only on our website
AP Video
Raw: Russian Aid Convoy Arrives in Ukraine Hamm Talks Emmy Chances Okla. Policeman Accused of Sex Assaults on Duty Raw: Egypt Bus Crash Kills at Least 33 Two Bodies Found in Adjacent Yards Dominican Republic Bans Miley Cyrus Concert Raw: Israeli Air Strike in Gaza Raw: Rescue Efforts Suspended at Japan Landslide Raw: Bodies of MH17 Victims Arrive in Malaysia Raw: Smaller Marches in Ferguson Attorney: Utah Eatery Had Other Chemical Burn Farm Resurgence Grows With Younger Crowd Microbrewery Chooses Special Can for Its Beer Ky. Firefighters Hurt in Ice Bucket Challenge Federal Investigation Will Look at Use of Force Community Deals With Michael Brown Aftermath US: We Do Not Pay Ransom to Terrorists Life on the Professional Video Game Circuit Ramen Health Risks: The Dark Side of the Noodle
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Obituaries
Poll
Kelly Lafferty's video on Tom Miller