If you only read the headlines on Friday, June 9, you might have thought that financial Armageddon was upon us. Major tech companies like Apple (Nasdaq: AAPL), Microsoft (Nasdaq: MSFT) and Google parent Alphabet (Nasdaq: GOOGL) fell as much as 6% in intraday trading. Meanwhile, the technology sector fell 1.53% and dragged the Nasdaq Composite Index down 113 points, or about 1.8% for the day. The selloff in tech stocks continued into Monday. Headlines screamed that this could be the start of the next major selloff and warned that this major bull market could be nearing its end. I hope you… Read More
If you only read the headlines on Friday, June 9, you might have thought that financial Armageddon was upon us. Major tech companies like Apple (Nasdaq: AAPL), Microsoft (Nasdaq: MSFT) and Google parent Alphabet (Nasdaq: GOOGL) fell as much as 6% in intraday trading. Meanwhile, the technology sector fell 1.53% and dragged the Nasdaq Composite Index down 113 points, or about 1.8% for the day. The selloff in tech stocks continued into Monday. Headlines screamed that this could be the start of the next major selloff and warned that this major bull market could be nearing its end. I hope you didn’t listen. Since June 8 — the day before the selloff — the Nasdaq Composite Index is down only 2.5%. Meanwhile, its counterparts the S&P 500 and Dow Jones Industrial Average have fared much better, with the S&P 500 up 0.52% and the Dow Jones up 1.57%. But what’s perhaps more interesting is the fact that just a handful of stocks caused Nasdaq to slide. The companies I mentioned above — Apple, Microsoft and Alphabet — plus Amazon (Nasdaq: AMZN) and Facebook (Nasdaq: FB) account for nearly 75% of the index’s weighting. Just consider, the Nasdaq Composite Index is comprised… Read More