A second major Wall Street bank this week is telling clients to cash in tech stocks. Here's why
Multiple banks are now expecting a down leg for the tech trade, which could broaden out performance in a healthy way.
All three principal stock market indexes in the United States commenced the trading day on a downward trajectory on Wednesday, October 14, as a more significant-than-anticipated inflation report stoked speculation of an interest rate increase. The Dow Jones Industrial Average experienced a decline of 85.11 points, or 0.16 percent, dipping to 51,584.99 at the opening bell.
The S&P 500 slipped 31.3 points, or 0.4 percent, to 7,774.18, while the Nasdaq Composite index experienced a downturn of 172.7 points, or 0.63 percent, closing at 27,031.64.
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