A sharp sell-off in 2024's winning tech giants has left investors wondering whether it's safe to scoop up the pummeled shares. Popular artificial intelligence related stocks fell sharply Monday after Friday's weak July jobs report stoked concerns that the Federal Reserve is behind the curve on rate cuts and that the U.S. economy is barreling toward a recession.
He's bracing for the potential of additional declines, adding that the firm began trimming overweight names that sold off during Monday's session about a month ago. That includes Broadcom , Microsoft and Tesla . Many investors viewed the sell-off as a necessary pullback in what's been a seemingly endless uptrend in the market. "When it feels completely inevitable, that's when you need to start asking questions.