Tech sell-off continues after Covid vaccine breakthrough
A global shift away from highly priced technology stocks continued on Tuesday as investors adjusted their portfolios following a breakthrough in the hunt for a Covid-19 vaccine. The Nasdaq Composite sank 1.9 per cent by late morning in New York, compared with a fall of 0.7 per cent for the blue-chip S&P 500 share index. Tech was also one of the worst-performing sectors in Europe’s Stoxx 600 index, as other segments such as financials pushed ahead. Meanwhile, the Russell 2000 grouping of small-cap stocks, seen as a barometer of the US economy, rose 0.9 per cent. Pierre Bose, chief investment...
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