Back down goes Wall Street as Big Tech resumes its slide
1 week ago

Back down goes Wall Street as Big Tech resumes its slide

LA Times  

Wall Street swung back down Tuesday, and its former superstars once again led the way. The drop for Big Tech continues a trend that’s taken hold in the market’s recent sell-off: Stocks whose momentum had earlier seemed unstoppable have since dropped sharply amid criticism they had simply grown too expensive. They’ve been among the biggest losers as Wall Street retrenches amid uncertainty about what President Trump’s trade war will do to the economy. Virtually everyone on Wall Street expects the Fed to hold its main interest rate steady on Wednesday, as it waits for clues about how conditions play out. One of the reasons the U.S. stock market’s sell-off in recent weeks has “so far been orderly,” with the epicenter remaining within tech, may be because of faith that the Fed can protect Wall Street, according to strategists at Barclays.

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