High-momentum tech stocks were among the hardest hit in the broad selloff. Alibaba (BABA) opened at a record low, while Twitter (TWTR), Google (GOOGL), Facebook (FB) and Amazon (AMZN) tumbled. Equities moved off of session lows as opportunists saw a chance to buy after days of declines. The Dow was down more than 1,000 points at its lowest point, but partially recovered to a 400-point drop. Stocks slumped after China suffered its biggest one-day percentage decline since 2007. Crude oil plummeted to its lowest level in six-and-a-half years on fears over demand from China. West Texas Intermediate was trading around $39 a barrel and was on track for its first closing price below $40 since 2009.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
