The three-day drop came amid increasing worry on Wall Street about a tech bubble, with major tech stocks fueling the Nasdaq Composite to record highs despite the hit to the economy from the coronavirus pandemic. Some said the pullback did not go far enough, with Duquesne Family Office CEO Stanley Druckenmiller telling CNBC on Wednesday morning that the market was in an "Others pointed to reasons why the market could regain its footing once again.
"People go to cash in droves — and it's immediate, it's a big wave. They come back in in drips. So as it drips back in, that cash is going to look for more attractive valuation opportunities. So I think it's natural that it would look for things that have been a little more beaten down or some of the stocks that haven't driven us up to this point," Young said on ".
Investors will be be greeted with new economic data on Thursday morning, including the Labor Department's weekly jobless claims report. Economists surveyed by Dow Jones expect 850,000 new claims, down from 881,000 last week.for exclusive insights and analysis, and live business day programming from around the world.
Source: News Formal (newsformal.com)
The rest of this week will be interesting. A lot of volativity the last 4 business days, after an incredible 5 month run Is it over?
And may continue to be so until we get more QE.
Why don’t you wait until at least 6:30pm EST to tweet this you dolts.
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