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    Home » Investors Sustain Confidence in Big Tech as Stock Market Struggles
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    Investors Sustain Confidence in Big Tech as Stock Market Struggles

    October 5, 20211 Min Read
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    Technology stocks are suffering from the brunt of the latest market selloff, putting a spotlight on how an expanded downturn in the sector could affect the broader equity indexes.

    • Following Monday’s sharp fall, the S&P 500 technology sector is 6.7% lower since the overall S&P 500 closed at a record high on September 2, compared with a 5.2% drop for the broader index during that period.
    • Meanwhile, the tech-heavy Nasdaq Composite is 7.3% lower from its September 7 closing high and rebounding closer to a 10% correction.
    • The plunge comes amid a series of worries that struck markets in recent weeks, including a looming unwind of Fed’s easy money policies, an increase in Treasury yields, and a nasty stalemate among lawmakers over the U.S. debt ceiling.

    Many investors are slow to cut their exposure to technology-related stocks that have led the markets and are expected to post strong earnings growth even when the economic climate worsens.

    S&P 500 down -1.30%, Nasdaq Composite down -2.14%Source: Reuters

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