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Google's parent Alfabet's stock closes into the first bear market in 7 years

Part of Google Parent Alphabet Inc. GOOGL, -3.32% has for the first time fallen on the market for seven-year-old bear…

Part of Google Parent Alphabet Inc.

GOOGL, -3.32%

has for the first time fallen on the market for seven-year-old bear in the afternoon, in the midst of broad and sharp sales in the technology sector. The stock was down 3.6%, on track for the lowest closing since 3 May, as the SPDR Technology Select Sector ETF

XLK, -3.52%

throw 3.7%, with all 65 of its components trading lower. S & P 500

SPX, -1

.55%

was down 1.8%. The intraday share of the Alphabet stock was $ 1,026.86, which was 20.1% below the 26th of July record close to $ 1,285.50; Many on Wall Street define a bear market as a decline of 20% or more from a bull market stop. A close to or below $ 1,028.40 would mark the end of the current bull market and the start of a new bear market, as it came from the last bear market on October 14, 2011. The stock was no more than 3.7% at 1 029.23. The other three original FANG shares – Facebook Inc.

FB, -5.06%

Amazon.com Inc.

AMZN, -3.81%

and Netflix Inc.

NFLX, -4.75%

– already exists in bear markets, while the honorary FAANG share – Apple Inc.


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