Big-Tech Selloff09/08/2020

Share:

Latest - Insights Latest - Insights Latest - Insights Latest - Insights Latest - Insights

August 31 – September 4, 2020 Recap

Taking Some Froth off the Table
U.S. stocks snapped a five-week winning streak last Friday as skittish investors exited high-valuation mega cap tech stocks, despite a drop in jobless claims below 1 million and improved payroll data. An index of the 100 largest Nasdaq stocks which is highly concentrated in technology was down as much as 5% on Friday, though it pared declines to just 1.3% as investors spotted bargains. Overall, benchmark S&P 500 equities finished the week at a two-week low.

Weekly Performance
For the week, the S&P 500 fell 2.27%, the tech-heavy Nasdaq Composite tumbled 3.25%, its worst weekly performance in five months, and the Dow Jones Industrial Average gave back 520 points (-1.82%).

Latest - InsightsCIM Weekly Recap 090820.pdf Latest - Insights

The Weekly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.

Latest News - Latest Insight Detail - Subscription

Want more insights like this, sent straight to your inbox?

Subscribe to email updates from Cetera and be well informed about what’s happening within the market and the financial services industry overall.

Drop Us a Line

Looking to be part of something more? Get in touch to learn about the benefits of affiliating with Cetera and start taking the next steps to a stronger future.