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Amazon, Apple and Tesla shares plunge in ‘scary tech sell-off’ on Russia war

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As Russia's ruthless invasion of Ukraine startled global markets, shares of American internet companies such as Amazon, Apple, and Google were hammered.

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As equities began on Thursday, the tech-heavy Nasdaq composite index was down 2.5 percent, with its losses outperforming the market as a whole.

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Despite the fact that Russia and Ukraine are not significant markets for American IT firms, industry observers say tech is particularly vulnerable to a sharp stock selloff.

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Analysts believe this is because they are already selling at such high prices that any any disruption may knock them off their already precarious pedestals.

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In 2022, investors had already begun to withdraw from riskier tech companies due to forecasts of rising interest rates.

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"This is the most oversold we've seen in tech equities since 2014/2015, with investors fleeing in droves as a potential war erupts in Europe," Ives explained.

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