This is stupid. Why should other tech stocks be dragged down except maybe Google who is as dishonest as Facebook and deserve bankruptcy. FB lost so much value because they are corrupt leftists with fake users and fake news. It has been exposed and their data leaks on users are causing the real users to abandon them. This should not reflect on any other tech companies except Google and any others like the lying lefties like them.
Because most of them have higher than average P/E ratios. Lower potential growth from saturation means overvalued.
Entrepreneurs are not managers.
That said, younger creative types are needed to keep these companies thriving.
But the old guys need to find a new reason to live.
Because all these like companies are bound up in Exchange Traded Funds. If FB goes down, then it drags the fund down. Then someone sees their fund go down and they get jittery and sell and the fund goes down more. It becomes self reinforcing, at least in the short term.
If this happens, there should be some good buying opportunities.