Tech Stocks Slide On Earnings, US Economy Flexes Muscles, Small-Cap Rally Continues: This Week In The Markets
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Bank of America: Technology stocks are only one "terrible non-farm report" away from collapsing.
Since the historical high point on July 10th, the market cap of companies in the Nasdaq 100 index has evaporated $2.6 trillion. Analyst Michael Hartnett of Bank of America believes that signs of an economic slowdown will put further pressure on technology stocks, but remains optimistic on the bond market for the second half of the year.
STMicroelectronics in Focus as Morgan Stanley Downgrades After Weak Outlook