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Tech stocks continue sharp slump as economic-recovery prospects stoke inflation fears
4 days ago | By Business Insider
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US stocks declined on Tuesday as expectations for rising inflation dragged on tech mega-caps.
Investors rotated further to value stocks and small caps from growth names as stimulus optimism fueled bets on economic recovery.
Bitcoin tanked below $49,000 after trading as high as $55,053.91 Monday afternoon as investors snapped up crypto profits.
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US equities broadly fell on Tuesday as positioning for strong economic growth and a pickup in inflation weighed on the tech sector.
Growth favorites...
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US tech rout set to continue after rising bond yields drive sharp sell-off, while bitcoin plunges again
4 days ago | By Business Insider
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US futures fell on Tuesday morning after stocks tumbled on Monday, with tech firms down again.
Rising bond yields have caused investors to second-guess the recent equities rally.
Bitcoin plunged again to around $48,000 after rising past $58,000 the previous week.
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The drop in US technology stocks looked set to resume on Tuesday morning, with Nasdaq 100 and S&P 500 futures sliding, after rising bond yields spooked investors and triggered a sharp sell-off on Monday.
Meanwhile, bitcoin plunged...
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