Sales of technology stocks are continuing, and this has also driven European indices. The Stoxx 600 declined to a two-week low as the main engine of the impairment was the technology sector. Last week, the high-tech sector fell by nearly 5%. The reason for the sell-off is the large growth in the sector during the year, which was expected to lead to profits and the rotation of capital to other sectors, mainly financial.
New purchases of technology stocks are expected early next year, when large hedge funds will begin to actively build their portfolios, and we will see again the rotation of capital across sectors.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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