The Biggest Tech Losers Post Brexit

June 24, 2016, 8:44 PM UTC
Frankfurt Stock Exchange Reacts To EU Referendum Vote Result
Thomas Lohnes Getty Images

Spooked by the “Brexit” decision in the U.K., the U.S. and global financial markets lost at least $2 trillion in value on Friday in what was the biggest decline since the 2008 financial crisis.

Almost all technology stocks took a hit including Google (down 4.15%), Apple (down 2.81%), Square (4%), Yahoo (4.08%), Microsoft (3.9%) and Twitter (3.52%).

The overall market fell as well. The Dow Jones industrial average dropped over 3% or 600 points, the S&P 500 was down 3.6%, and the Nasdaq fell 4.12%, at market close.

U.K. citizens voted on Thursday to leave the European Union, the economic and political alliance of 28 nations. The result created a huge swell of uncertainty for investors that spared no sectors, including tech.

Here are the biggest losers in tech:

IBM: Big Blue stock tumbled 5.5% to $146.89 per share

Hewlett Packard Enterprise: HPE’s stock dropped over 7.56% to $18.40 per share

Twilio: Newly public Twilio’s stock jumped more than 90% in its first day of trading on Thursday. But it fell 8.27% on Friday to $26.30 per share.

Lending Club: The online lending site, which has suffered recently from an executive shakeup and is under investigation for loan practices and disclosures by the Securities and Exchange Commission, saw its stock tank by 5.82% to $4.69 per share.

PayPal: PayPal, which operates its digital wallet and payments services globally, dropped by 4.3% to $35.08 per share.

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