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Violent Tech Rout Will Avoid a 20% Drawdown: Markets Pulse
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Violent Tech Rout Will Avoid a 20% Drawdown: Markets Pulse A $2.3 trillion wipeout in Nasdaq 100 stocks will stop short of sending the benchmark into a bear market, or a 20% drop from recent highs, according to the latest Markets Pulse survey. Despite a rebound on Monday, the tech stock index remains more than 10% below its October peak.
Violent Tech Rout Will Avoid a 20% Drawdown: Markets Pulse
A $2.3 trillion wipeout in Nasdaq 100 stocks will stop short of sending the benchmark into a bear market, or a 20% drop from recent highs, according to the latest Markets Pulse survey.
Despite a rebound on Monday, the tech stock index remains more than 10% below its October peak. Yet a majority of the 139 respondents to an instant poll — conducted Nov. 6-9 after last week’s steep selloff — said losses will remain contained in the foreseeable future, or a deeper slide won’t happen until 2027. Combined, the two groups outweighed the remaining 48% of respondents who expected a further drop into year-end.