FYI: The stock market often acts as though tech stocks were members of a close-knit family that must always travel together.
Tech stocks, as a group, drove the stock market higher in the first part of 2018, and led the entire market lower this autumn, or so it is frequently said. I’ve lumped tech stocks together this way myself in describing market action recently and as far back as the early 2000s.
Talking about tech as if it were a monolith isn’t entirely wrong. Tech stocks often do move in a pack — mainly because investors frequently treat them as a cohesive entity.
Regards,
Ted
https://www.nytimes.com/2018/12/13/business/tech-stocks-together.html
