Shares of the biggest U.S. technology companies were well on their way to mirroring the Internet-driven 1990s bull market before they faltered last week. An index that consists of Facebook Inc., Amazon.com Inc., Apple Inc., Microsoft Corp. and Google’s owner, Alphabet Inc., surpassed its 200-day moving average by as much as 43%, according to data compiled by Bloomberg. The gap neared a peak of 55% for the Nasdaq Composite Index in March 2000, when the bull market ended. A similar comparison was made by Michael Hartnett, Bank of America Corp.’s chief global investment strategist, in a report Friday.
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