Tech stocks slump as rotation gets underway
Coronavirus vaccine news triggered a massive rotation trade yesterday. Tech stocks and pandemic winners plunged while cyclicals and industrial stock rallied. US100 experienced a steep drop and pulled back from the all-time high area near 12,460 pts handle. Move is being continued today but the US tech index managed to recover from overnight lows.
US100 pulled back from resistance in the all-time high area yesterday. Will rotation trade sink the US tech index further? Source: xStation5
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