The Nasdaq is falling as investors are deterred from technology before interest rates rise

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Kara Murphy, chief investment officer of Kestra Investment Management, told Bloomberg: “Technology is a classic example of an area where stocks have really benefited from lower interest rates.

“Like interest rate expectations are rising in the future, then it makes sense that this would be an area that would be more damaged. “

Scott Ladner, chief investment officer at Horizon Investments, said: “The market is really struggling to sell really high-profile, unprofitable technology names and find other places to invest money.”

He added that many large technology companies with solid revenues and profits, such as Apple and Microsoft, will suffer less than their counterparts, who have low incomes but have strong prospects.

Markets also reacted negatively to the Supreme Court’s blocking of Joe Biden’s proposed rule, which would require employees of large companies to have mandatory vaccines against Covid or occasional tests.

Conservative judges considered this policy, which would apply to 80 million workers, to be an inappropriate imposition on the lives and health of many Americans.

Due to investor concerns, U.S. companies are expected to report results in the last quarter of 2021 in the coming weeks.

Banks JP Morgan Chase, Citigroup and Wells Fargo are announcing updates on Friday, while major technology companies are reporting next week.

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