As Bloomberg reported: A rout in technology shares deepened Friday, threatening to push the S&P 500 Index into corrective territory with the Nasdaq, as one of the most tumultuous weeks in equity markets this year draws to a close. Treasuries and gold rose as investors sought refuge. The S&P 500 remains on track for the worst month in eight years. The tech-heavy Nasdaq indexes bore the brunt of selling after Amazon.com and Alphabet sank on disappointing results. The CBOE Volatility Index shows price swings are the greatest since February. |
in other words, our macro team's call in late September was spot on.
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