CNN Business: “Big Tech was the heart of the bull market. Now it’s under fire”By admin_45 in IN THE NEWS
Excerpt from CNN Business quoting DataTrek's Nick Colas:
Not only have Facebook, Google, Amazon and Apple been at the heart of the bull market, but they are embedded in just about every individual investor's portfolios and retirement accounts.
And given their enormous size — the big four account for about 11% of the S&P 500's entire value — their fate is inextricably linked to that of the broader markets.
"DC is playing a risky game here," Nicholas Colas, co-founder of DataTrek Research, wrote in a note to clients. "Do material damage to their stock prices and you risk setting off a broader market selloff at a time when investors are already fretful."
Read the full article here on CNN Business!