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The Closing Bell: Tech Shares Lead Dow, S&P And Nasdaq Lower In Late Afternoon Sell-Off
FYI: Major stock markets slipped on Monday as rising tensions between Western powers and Saudi Arabia added to concerns over the pace of global economic growth, with investors flocking to traditional safe-havens like the Japanese and Swiss currencies, as well as gold.
Investors resumed their retreat from growth and momentum stocks, the linchpin of the 9½-year bull rally and moved into sectors of the stock market that have more attractive valuations and tend to be more durable in challenging economic conditions, such as shares of consumer-staples and real-estate companies.
A combination of fast-rising bond yields and continuing trade fears has stirred investors to cut riskier stocks from their portfolios, amid worries that the huge profit margins among many of these companies will fall. Regards, Ted Bloomberg Evening Briefing: https://www.bloomberg.com/news/articles/2018-10-15/your-evening-briefing
