Business
Techs rebound and S&P 500 surges higher – The Australian Financial Review
Tech shares rebounded from a morning plunge and helped power the S&P 500 to a 2 per cent leap heading into the weekend. Tesla ended below $US600.
In fact, the super-growth ARKK ETF fund was down to a greater extent, Mr Lee noted. The fund, with Tesla as a key investment, was 10 per cent lower near 11.30am local time. In ended the day down 1.1 per cent.
Mr Lee said the sudden and dramatic drop is what makes a local bottom. We believe this is likely the first half 2021 low for technology stocks and would be buyers.
Investors appeared to agree, at least initially. The Dow had a more than 700 point pivot from its morning low to its close; it…
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