Shares of tech companies fell as waves of volatility continued to wash through risky sectors. Shares of Snap rose by as much as 50%, rallying past its initial-public offering price and quelling concerns that Snapchat app was a fad. Snap said sales rose 72% in the fourth quarter from a year earlier, far in excess of Wall Street targets as it added 8.9 million daily users during the period, up 18% from a year earlier. Goldman Sachs is in talks with Apple to offer financing to shoppers buying phones, watches and other gadgets from the tech giant, which is selling more premium products, including the new iPhone X, which starts at $1,000. Alphabet's YouTube online television site often directs people to false and misleading content because of its algorithms.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

February 07, 2018 17:04 ET (22:04 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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