Comment on Mega-cap tech stocks drag Nasdaq down 3% as bear market rally fizzles out

Mega-cap tech stocks drag Nasdaq down 3% as bear market rally fizzles out

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 5, 2020.Andrew Kelly/ReutersThe Nasdaq 100 fell 3% on Tuesday as mega-cap tech stocks resumed their months-long sell-off.Tuesday's decline makes it more likely that the recent 6% gain in the S&P 500 was nothing but a bear market rally.Stocks were initially higher on Tuesday after China eased its COVID-19 lockdown restrictions.US stocks resumed their months-long sell-off on Tuesday, with mega-cap tech stocks dragging the Nasdaq 100 down 3%.The decline makes it more likely that the 6% gain in the S&P 500 over the past week was nothing more than a bear market rally, drawing in hopeful bulls searching for a bottom only to reveal further downside ahead.

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News