Tech Stocks: 'We Haven't Seen the Potential Second Leg Down,' Strategist Says
The rout in tech stocks may not yet be done, warns a long-time investor in the space.
The rout in tech stocks may not yet be done, warns a long-time investor in the space.
Investment bankers in the US and Europe are bracing for potentially billions of dollars in total losses on big-ticket leveraged buyouts.
With fervor in markets receding, investors will need to critically focus on fundamentals and security selection to ride out the turbulence.
“I don’t think there is a playbook we can turn to from the global financial crisis or the dotcom bust or anything else,” Matt Cwiertnia, Ares Mgmt.
US stocks attracted $14.8 billion in the week to June 15, their sixth consecutive week of additions, according to Bank of America Corp.
Investors should buy bonds now because it’s the “most attractive point” in years, according to senior investment executives at T. Rowe Price Group.
Corporate America was furiously buying, while hedge funds were busy bailing from stocks at a record pace as S&P 500 plunged into a bear market.