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1.Market Observations, 8.Was Sticky

10 June 2017 (CNBC) – Apple, Facebook and other big tech stocks tank, weigh on Wall Street

(10 June 2017, CNBC online, Patti Domm)

‘Big tech was slammed Friday as investors took profits from the group, which some fear has become a massive market bubble. The sell-off accelerated in afternoon trading, with the Nasdaq falling 2.4 percent, and names like Facebook and Apple, down 4 percent. The S&P tech sector was down 3.3 percent Friday but was still up 18 percent for the year. Goldman Sachs on Friday released a report on the top five outperforming mega-cap names in tech with some warnings on valuations and concerns that their volatility has become extraordinarily low. In fact, the stocks had become closely correlated to safe haven plays, like bonds and utilities.’

Read more at CNBC.com

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