This month’s roundup of news from the technology sector includes tech stocks crash; in-flight Wi-Fi points to travel tech change; and more.
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Tech stocks drag market down
A drop for the tech giants pulled down the broader stock markets Tuesday, according to a report from The Wall Street Journal. The newspaper notes that the Nasdaq Composite Index, which has a higher degree of tech stocks than other exchanges, was down 2.6% Tuesday, extending a three-day drop of 8%.
Apple (down 3.7%), Amazon (down 3%), and Facebook (down 2.7%) all contributed to the decline.
Tech giants deal with parental leave backlash
To be understanding of parents dealing with closed schools and child care centers, large tech companies like Facebook and Salesforce have created flexible work policies that employees without children are now decrying as biased, The New York Times reports.
The issue seems to be creating a rift as companies learn how to navigate the current environment.
“As companies wrestle with how best to support staff during the pandemic, some employees without children say that they feel underappreciated, and that they are being asked to shoulder a heavier workload,” the newspaper reports. “And parents are frustrated that their childless co-workers don’t understand how hard it is to balance work and child care, especially when day care centers are closed and they are trying to help their children learn at home.”
What in-flight Wi-Fi says about the future of travel and tech
Relatively few people are flying but those who do seemingly are more interested in spending on in-flight Wi-Fi, according to a report from Bloomberg, which notes the increased Wi-Fi usage could be reflective of “new internet habits formed under lockdown.”
“Lots of users are basically two to three times more likely now to connect and stay connected on board than they were at the beginning of the year, before COVID,” Alexander Grous, an expert on airline strategy and economics at the London School of Economics, told the news outlet.
Compiled by Sean McCracken.