Business & Tech

Worst Stock Decline Since Dec. 2008 Clobbers MV Companies

LinkedIn loses 17.39 percent of stock value; Google down 5.7 percent.

Stock market indexes took a nosedive today in part due to rating agency Standard &Poor's downgrade of the United States' credit from AAA to AA.

, and , investors in Mountain View companies decided to sell, sell, sell.

The Dow Jones Industrial Average lost 634.76 points or 5.55 percent to 10,809.85.

Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.

New York Stock Exchanged listed LinkedIn (LNKD:NYSE) fell 17.39 percent, $15.89 to $75.47.

As a result of the market turmoil, the tech-heavy Nasdaq lost 6.9 percent, its worst declined since Dec. 2008, when it dropped 8.95 percent. It decreased 174.71 points to 2,37.69.

Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.

The index took Google (GOOG:Nasdaq) along for a ride, which lost 5.7 percent, or $33.02 to settle at $546.

Complete Genomics (GNOM:Nasdaq) has also had a rough week. Last Thursday, Aug. 4, the investors sold 1,598,058 shares, the largest selloff since the companies initial public offering in Nov. 2010, for a stock decrease of -31.47 percent to $7.71.

While the company recovered on Friday, it lost all that gain today. Complete Genomics stock fell 10.82 percent and closed at $7.50.

Intuit (INTU:Nasdaq) dropped 6.10 percent, or $2.66 to $40.94.

Symantec (SYMC:Nasdaq) 6.43 percent, or $1.10 to $16.00.


Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.

We’ve removed the ability to reply as we work to make improvements. Learn more here