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KQED Nightly Business Report June 10, 2017

Reversed course. By the end of the day, amazon, facebook, alphabet, apple, and netflix all lost 3 or more. In the end, it was a tale of two markets. The Dow Jones Industrial average closed at a record, up 89 points to 21,271. The nasdaq lost 113 points. And the s p was off two. Bob pisani takes a look at the hit the tech stocks took. Reporter finally we got a little volatility as some traders came forward to begin to question the valuation of some of these big tech names. Facebook and amazon and apple and microsoft and alphabet were down about 3 to 5 today. Goldman sachs, in a note this morning, made a very simple but important point. These big tech names are traditionally cyclical growth stocks. In other words, theyre volatile. But everyone has been acting like theyre boring consumer staple stocks, usually not volatile, and everybody bought them aggressively assuming they would go up with no risk at all. They warned the sto ....

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