Tech stocks plunged in October, suffering worst month since 2008 

The tech sector certainly wasn’t alone in October. Eight of the 10 subgroups of the S&P 500 fell, led by energy and consumer discretionary stocks, which dropped more than the tech group. The broader S&P 500 declined 6.9 percent, and the Dow Jones Industrial Average slid 5.1 percent.

But tech has an outsize impact on the market as a whole, because five of the six most valuable U.S. companies are from that sector and hail from either Silicon Valley or the Seattle area.

Apple will be the last of the big five to report quarterly earnings, when the iPhone maker announces results on Thursday. Facebook reported mixed results on Tuesday, with earnings per share beating estimates but revenue falling short. Amazon and Alphabet plunged last week on disappointing numbers, while Microsoft rose on better-than-expected earnings but still fell for the week.

WATCH: Can Apple earnings save the tech trade?

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