The tech stock ‘fairy tale’ is heading for a bad ending
|06/17/2017||Posted by BusinessMediaguide.Com under General World News||
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 >>>