Wall Street Analyst Predicts End To Tech Rout: 'Much Of The Selloff May Be In The Rearview Mirror'

Quick Summary:

What initially seemed like a cause for celebration after Jerome Powell hinted that a September interest rate cut “could be on the table” quickly turned into another selloff for tech stocks the day after the July Federal Open Market Committee meeting.

Investors reevaluated their positions in tech giants in light of disappointing economic data released Thursday and the latest earnings reports, shifting toward a more risk-averse approach.

Ed Yardeni’s Insights On Tech Stock Prospects

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Article Details

Author / Journalist: Piero Cingari

Category: Technology

Markets: United States

Topics: NFLX Large Cap Broad U.S. Equity ETFs Federal Reserve AAPL US88160R1014 US64110L1061 TSLA QQQ Ed Yardeni Movers US38259P5089 AMZN ETFs MSFT IL0010829161 Stories That Matter Benzinga Markets Top Stories Expert Ideas US0231351067 NVDA US73935A1043 Sector ETFs Tech Analyst Color MAGS GOOG US4642875235 US0378331005 US38259P7069 US67066G1040 SOXX Equities US5949181045 GOOGL

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 19:36:40 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 433 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21888962

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