Tech Slide Deepens as Bonds Drop, Oil Breaches $70

McAlvany ICA

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Tech Slide Deepens as Bonds Drop, Oil Breaches $70

The biggest technology shares fell for a third day as investors showed signs of exhaustion with the sector amid a slew of corporate earnings. Government bonds declined ahead of key policy meetings from some of the world’s biggest central banks.
The Nasdaq 100 Index sank almost 1 percent as the FANG cohort tumbled 2.2 percent, led by Netflix Inc. The group of tech megacaps is off 8.7 percent in the three sessions since Facebook Inc.’s results triggered a record evaporation of market value. Twitter Inc. joined the slide, retreating almost 4 percent. Anxiety that tech shares have become overvalued persists as Apple Inc. prepares to report earnings Tuesday.

 

 

 

 

 

 

 

 

 

 

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