What China's Stock Market Crash Means For The Tech Industry
Stocks plummeted again today in China, closing 7 percent lower. The crash wiped out more than $1 trillion from Shanghai stocks in the last four days. Markets elsewhere seemed to rebound slightly after huge losses yesterday, but with the instability in Chinese stocks and oil prices below $40 a barrel, the easing to a global sell-off is far from certain.
One of the industries watching closely is the technology sector. In the last week, stocks for companies like Twitter and Alibaba fell below their IPO prices. And investors have cautioned young startups that garnering the much-needed bulk of funding may require changes in the current tech philosophies, such as valuing profits more than growth.
Here & Now’s Robin Young speaks with Carmel DeAmicis of Re/code for a look at how the tech sector is responding.
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