NEW YORK — Wall Street is steadying itself Wednesday following its first three-day losing streak in nearly three months, as the bloodletting comes to at least a temporary halt for big technology stocks.tumbled since late last week
Selling over the last week in the market has focused on such tech superstars, which had earlier zoomed through the pandemic amid expectations that they would benefit from the new stay-at-home economy. Blockbuster profit reports from many of them for the spring emboldened investors, who bid their stock prices up to levels that critics called too expensive, even after accounting for their powerful growth.
Still to be determined is whether the recent sell-off is just a blowing-off of some steam for tech stocks that had gotten overheated — or whether it’s the beginning of a more widespread downturn. The Senate is preparing to vote this week on a trimmed-down relief package proposed by Republicans, but it has only a slim chance of passage as Democrats are insisting on more sweeping aid.
The stock market is not the economy
We don't care about the damn stock market. The focus needs to be on employment & wages.
It's not a market. Arbitrage ops and Fed-CB support rigging. Economics and maths are dead languages. Less uplift than Latin or Thomas Cranmer English at mass.
The stock market is like realDonaldTrump’s brain, up and down like an out of control roller coaster at full speed.
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