Tech stock sell-off keeps nervous investors on sidelines

Tech stock sell-off keeps nervous investors on sidelines

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Global markets remain risky after another week of sell-offs in big technology stocks knocked investor confidence.

The tech-heavy Nasdaq lost 0.56 per cent to remain in a technical correction as market participants struggled to recapture the momentum that had propelled global stock market to all-time highs only three-weeks ago. The MSCI World Index declined for the third-successive week, underpinned by
a 0.64 per cent drop in the S&P500.

Despite the decline in equities, sentiment improved with the US VIX (fear) index easing and bolstering the argument the decline in stocks is just a market blowing off froth.

Wall Street tech stocks have copped a beating in the past couple of weeks.

Wall Street tech stocks have copped a beating in the past couple of weeks.Credit:New York Stock Exchange/ AP

Entering into the new trading week, the market is dominated by a sense of uncertainty as investors position for an increasingly risky end to 2020. The US election is shaping as the biggest risk-factor, with the stock market seemingly positioning for a change in President, and the heightened potential that the election result could end up being contested in the courts.



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