VAST VIEW Tech Stock Selloff Goes Into Overdrive as 'Priced for Perfection' Bet Unravels
Technology shares are getting pummeled as investors dump stocks that had soared on sky-high expectations, according to MarketWatch.
Photo by sergeitokmakov via Pixabay
A sharp selloff in technology stocks is accelerating, according to MarketWatch, as shares that had climbed on near-flawless growth expectations suddenly come back to earth.
MarketWatch reports that many of these tech names had been trading at valuations that left no room for disappointment, meaning even small cracks in their outlook are now triggering outsized declines.
The pullback marks a sharp reversal for a sector that had been a major driver of market gains, as investors reassess how much they are willing to pay for future growth.
Sources: MarketWatch Top Stories
More from Money
Wall Street got slammed Friday as weak earnings from major tech companies triggered a steep selloff, sending the Nasdaq to its worst single-day drop in months.
TikTok is pushing a viral theory that giant candy bars beat fun-sized bags on value this Halloween. MarketWatch crunched the numbers to see if the claim actually holds up.
A fresh wave of mergers is forging bigger US natural gas producers, positioning them to lock in massive supply deals with LNG exporters and electricity-hungry data centers, according to Bloomberg.