Business
Tech Selloff Seen as Removal of Froth, Not a Warning Sign – Bloomberg
The technology selloff was speculative excess coming off a hot market, rather than the beginning of a broader pullback.
The technology selloff was speculative excess coming off a hot market, rather than the beginning of a broader pullback.
That’s the consensus view of investors and strategists after Thursday’s 5.2% plunge in the Nasdaq 100 Index, the worst since March.
With the pandemic continuing to rage and a vaccine likely months away, bulls say there are plenty of good reasons why technology shares can be supported at current levels, despite lofty valuations.
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