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ASX set to open higher despite more Wall Street losses – Sydney Morning Herald
Tech stocks again take the brunt of the losses as inflation fears continue to worry Wall Street.
That has put extra pressure on tech stocks and companies promising the allure of big growth, which have been leading the market for years. Apple, Microsoft and Tesla were three of the heaviest weights on the S&P 500 Monday, falling between 0.9 per cent and 2.2 per cent.
In recent weeks, blowout profit reports from tech titans and much of the rest of corporate America have helped validate the huge run stocks have been on for more than a year. The economy continues to strengthen as COVID-19 vaccinations…
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