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The tech stock ‘fairy tale’ is heading for a bad ending

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Tech giveth, and tech taketh away.

And the formerly red-hot sector has been doing quite a bit of taking over the past two days.

The Nasdaq 100 Index, which is heavily weighted toward tech, has slipped 3% since Friday, erasing roughly $200 million of market value amid mounting concerns that the space got overheated on its way to record highs.

The jarring sell-off has highlighted the fragility of a tech rally driven largely by a handful of high-flying mega-cap stocks that are more heavily owned by managers of large funds than at any other point in the eight-year bull market. That includes read more >>>

Source:: BusinessInsider.Com

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