Tech Stocks Get a Second Downgrade This Month on Growth Risks
Wells Fargo Investment Institute downgraded its view on the technology sector to neutral from favorable, citing lofty expectations and higher debt levels.
This websiteโs original language is English. For translation, click the globe icon or choose Translate in the menu.
3 matching records found
Wells Fargo Investment Institute downgraded its view on the technology sector to neutral from favorable, citing lofty expectations and higher debt levels.
Technology stocks are set to regain some of the momentum theyโve lost since the end of the first half as reduced crowding, strong earnings and more realistic valuations pull investors back toward them, according to JPMorgan Chase & Co. strategists.
Equities fell around the world after leaders of the biggest artificial-intelligence firms proposed slowing the technologyโs development, while a jump in oil prices sapped risk sentiment further. Tech stocks led declines as traders fretted that efforts to rein in the advance of cutting-edge AI could dent the boom driving hundreds of billions of dollars in capital expenditure. Nasdaq 100 futures sank 1.4%. OpenAI backer SoftBank Group Corp. slid the most in three months in Japan, while South Koreaโs Kospi index slumped 3.3%. In Europe, the Stoxx 600 was little changed. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie. (Source: Bloomberg)