Market Views: Is it a good time to buy US tech stocks?
Inflation, fluctuating interest rates, Covid-19 shutdowns, and sporadic reopenings have led to bouts of volatility in the market, with tech stocks bearing the brunt of the selling over the last month.
Rotation out of technology stocks led a market selloff earlier this month, seemingly driven by investors’ expectations for a surge in bond yields, but some asset managers remain bullish on the tech sector.
The tech-heavy Nasdaq fell 2.26% on October 4, while the S&P 500 fell 1.38%. Longtime market leaders such as Apple and Facebook were hit the hardest, as they fell 2.5% and 5% respectively. Apple’s share price dropped 11% from its September peak, and Facebook fell 15%, puttin…
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