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Vaccine news prompts tech portfolio reallocation

CURRENCYCOM:US100   NASDAQ 100
Yesterday’s price action on the tech-heavy Nasdaq which has been outperforming for months had Investors scratching their heads as they witnessed a negative correlation with the broad market as the vaccine news began to spread. While the Dow Jones Industrial Average made a new intraday all-time high, the Nasdaq was heading in the opposite direction. The bulk part of the slide was due to portfolio reallocation, as investors favoured airlines, travel and tourism .

But the fact of the matter is, there is no reason why a vaccine should hurt the tech giants, in fact, one could argue it’s a positive turn out, simply put, a vaccine points to normality and recovery.

Comments

I do believe the dips in tech is just temporary.
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Amazon, Microsoft, Netflix, Zoom & others benefitted from people staying in, working from home & stores being shut. The prospect of a return to normality is perceived to be harmful to many tech companies.
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