Business
Wall Street’s tech meltdown could simply be a correction – or a sign of trouble ahead – Sydney Morning Herald
A market “whale,” bored millennials and the dynamics of the markets might have been the cause of last week’s tech slump, but what does it tell us about what lies ahead?
Those stocks have, as a group, more than doubled in value, with Tesla rising a mind-boggling 590 per cent and Apple a still eye-watering 139 per cent before the selling that started on Thursday (US time). Tesla was still up 480 per cent on Fridays close and Apple about 115 per cent.
Theres an obvious explanation for why stocks generally, and tech stocks in particular, have risen strongly since March.
That was when the Fed threw the kitchen sink at the financial system, the economy and the mark…
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