With fears of a looming tech stock bubble, the UK tech stocks stumbled in early trading after the NASDAQ index lost 3% in New York. This has been the worst session performance since late 2011.
A slide down of 3.6% was seen by Semi conductor maker ARM while the software firm Sage fell down by 2.5%. Monitise, the mobile banking firm slid down by 3.2%, while the fashion retailer Asos fell down by 3.4%.
Even the new entrant, an internet-based food service, Just Eat, stumbled down by 3.8% which was lower than its IPO price. In another instance,the electrical firm AO World fell down by 2%.
There was greater beating for the US stocks this week and it had influenced the negative sentiments among investors in London. The stocks of Facebook fell down by 5.2%, that of Amazon fell by 4.4%, Google fell down by 3.3% and Twitter fell down by 2.7%.
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